This week, Diana Czugler presented a webinar for the School of International Financial Services titled “Art and Antiquities: High-Value Assets as Vehicles for Money Laundering”. The lecture touched on a broad stretch of areas. These included identifying why the art market is attractive for those engaged in money laundering, what exact criminal offences are involved (both predicate and in situ), who is classed as an “art market participant (AMP)”, and the red flags those involved in the art market should watch out for.

The lecture also highlighted current regulatory efforts, like INTERPOL’s comprehensive investigation initiative “Operation Pandora”. The UK, EU and international partners each contribute to the regulation and enforcement of AML legislation, and the art market is no exception. Real-world examples were presented, along with their entanglement with Russian sanction issues and terrorism financing. Diana closed the lecture by signposting essential due diligence processes for AMPs, and sectoral guidance resources designed to help identify high risk transactions.