Secretive high-end art world can be vehicle for dirty money, US Treasury warns
by David Solomonoff
A new advisory urges agents, brokers, and others in the art industry to adopt safeguards against financial crime, money laundering, and sanctions evasion; Artwork’s often “subjective value†creates an additional attractive value to financial criminals — who are known to manipulate invoice prices to covertly shift money around the globe.
Source: Secretive high-end art world can be vehicle for dirty money, US Treasury warns – ICIJ