The art and antiquities market is a global industry at the nexus of culture and commerce, but its high-value, high-privacy nature makes it a target for financial crimes. The growing scrutiny from global regulators, including the Financial Action Task Force (FATF) and the European Union’s Anti-Money Laundering Directives, has made it essential for legal professionals to understand the evolving landscape of compliance and enforcement.
Topics covered will include:
- Core Vulnerabilities: Anonymity in transactions, use of shell companies, and freeports.
- Compliance with AML directives: Understanding the EU’s AMLD, and FATF guidelines,
- Red flags and risk indicators: Identifying suspicious activities in art transactions and storage.
- Role of legal counsel: Practical tools for advising auction houses, galleries, and clients on due diligence.
- Case studies: Exploring notable instances of AML violations and successful legal interventions.
- Cross-border challenges: Investigating cultural object tracing, international cooperation, and jurisdictional variances.
- Protecting Cultural Heritage: Balancing AML compliance with the preservation of art and antiquities
