The FATF has released a new report on the money laundering and terrorist financing risks within the art and antiquities market.
The report covers:
- ML/TF vulnerabilities associated with cultural objects and the market;
- ML/TF threats associated with cultural objects;
- Challenges and good practices to mitigate the risks across state and sectoral levels;
- Risk indicators to help entities identify suspicious activities in the art and antiquities markets
Businesses operating within the arts and antiquities sector should read the FATF report to enhance their understanding and remain up to date on the potential ML/TF risks posed to them, and ensure that their operations align with the report’s good practice strategies.