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Stemming Financial Crime in Art and Antiquities, with Steve Schindler and Katie Wilson-Milne

Financial Crime Matters

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The Future of the Antiquities Market

In February 2022, FinCEN issued this report determining that the art market generally does not need to be regulated for anti-money laundering and terrorist financing in the same ways as the antiquities market did. In Europe, thanks to what's called the fifth directive that came into effect in early 2020, which does regulate the art market under similar legislative regimes equivalent to the Bank Secrecy Act. So there's a much higher sensitivity, at least even among art dealers or professionals out there who can hire if an art dealer is doing AML investigations.

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