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