Phillips is a premier global auction house specializing in the sale of fine arts, antiques, and collectibles. Founded in 1796, its primary auctions and exhibitions are held in New York, London, Geneva, and Hong Kong, with operations extending across Europe, […]
Following the Financial Action Task Force’s (FATF’s) second plenary under its two-year Singapore Presidency, the global watchdog has published a new report on Money Laundering and Terrorist Financing in the Art and Antiquities Market. The report aims to increase awareness […]
Due to price flexibility and purchase anonymity, the art and antiquities market can provide an attractive environment for racketeers to launder money. According to a 2023 report, the global art market grew from $441 billion in 2022 to $579 billion […]
The European Union’s Fifth Anti Money Laundering Directive (5AMLD) came into force across all member states on 10 January 2020. The directive set out a range of requirements and amendments to EU AML legislation, including the introduction of a legal […]
