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The Center for Art Law Report on Anti Money Laundering and Art Review

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Source: Forbes

The “Center for Art Law Report on Anti-Money Laundering and Art” [1]is an enlightening and comprehensive guide that explores the practices of Anti-Money Laundering (AML) in the art sector across EU member states and the UK, following the enforcement of the EU’s 5th AML Directive in 2018. This Directive brought the art world under closer scrutiny by EU’s AML regulations, particularly due to the increasing association of art financing with terrorist activities.

What sets this report apart is its pioneering effort in compiling a guide of this nature. It features survey responses from leading Art Law experts across 14 jurisdictions, offering valuable insights. The report delves into the specific AML laws that apply in each country, their approach to Non-Fungible Tokens (NFTs), and the array of sanctions in place. Not only does this approach provide a comprehensive understanding of the diverse legal landscapes, but it also raises awareness about the implications for participants in the art market throughout Europe and beyond.

Read more: https://www.forbes.com/sites/matthewerskine/2023/12/04/the-center-for-art-law-report-on-anti-money-laundering-and-art-review/?sh=303a88b8297f

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