UK ART MARKET UNDER AML SCRUTINY NOW DEALERS ARE REQUIRED TO SCREEN CUSTOMERS
December 2nd, 2020
LAW enforcement and AML regulators will be keeping a close eye on Britain’s major art market to assess how deeply it has been subverted by criminals and money launderers, the UK government has said. In its latest national risk assessment of money laundering and terrorist financing 2020, released on Thursday (December 17), the government noted how new UK money laundering regulations insist that art dealers must now conduct CDD on buyers and sellers. That includes “exhausting all possible means to verify the identity of the customer, or the ultimate beneficial ...
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