6 February 2022


US Treasury Releases Report On Illicit Art Market Money Laundering

The U.S. Department of the Treasury has published their study on the facilitation of money laundering and the financing of terrorism through the trade in works of high-value art. Heavyweight art dealers and auction houses spent over $1 million lobbying federal officials in Washington on this and other regulatory issues over the past two years. […]

20 March 2019


Art And Money Laundering Why The Global Art Market Needs Regulation

High-end art, antiquities, and antiques have become more and more attractive to money launders says, Peter D. Hardy a partner at Ballard Spahr, writing for The National Law Review, in an in-depth article published today.

26 January 2015


Professionals Scrutinise The Art World’s Shady Dealings

Regulation is needed in the global art market because it is vulnerable to money laundering, tax evasion, trading on inside information and price manipulation – as reported by the Financial Times blog after an FT Weekend lunch in Davos. It is indeed not much of an exaggeration to state that the art world is the […]

13 November 2014


Spanish Politicians Implicated In Money Laundering Involving Two Goya Paintings

Six former high ranking Spanish government officials are being investigated by authorities over alleged corruption surrounding the sale of government-owned artworks, including two paintings by the Spanish master Francisco Goya, with a total worth of around €14 million or £11 million, reported Spanish daily newspaper ABC. Former education secretary Eva Almunia, and her husband Carlos […]

17 April 2013


Gallerist Helly Nahmad Arrested For Suspected Gambling Related Money Laundering

The well known international art dealer Helly Nahmad’s New York gallery was raided by the FBI on Tuesday morning for suspected illegal gambling and money laundering breaches . The gallery located at the Carlyle Hotel on Madison Ave was thoroughly searched and computers were removed by the federal agency. Forbes stated that it was part […]