Corinth Consulting
AML Compliance Programs
“How the global art trade facilitates money laundering – and what can be done about it”. Learn more about how the opacity of the global art trade has hampered the work of governments internationally attempting to crack down on money laundering, during Nightlife’s Podcast featuring Rena Neville.
https://www.abc.net.au/radio/programs/nightlife/global-art-money-laundering/13700160
January 9, 2022
The Art Business Conference returned in strength in London on November 2nd and provided an excellent opportunity to exchange information and ideas about the art market and AML of today and tomorrow. Paula Trommel participated in The Art Business Conference AML Panel and engaged in lively a debate on the effect of AML on the art world, organised by Louise Hamlin.
Thank you to Harriet Clapham Art Advisory for the mention of Corinth Consulting, art market AML solutions, in The Times. Understanding how clients came by the funds to acquire art is just one of the tricky parts of the UK AML regime.
Her Majesty’s Revenue & Customs in the UK issued guidance to help the art market understand the AML risks it faces and how to best address them. One of many points of interest: Before one regulated Art Market Participant (AMP-1) transacts with a fellow Art Market Participant (AMP-2), AMP-1 should check the HMRC Register to see if AMP-2 is registered, and if not, HMRC suggests AMP-1 should not proceed with the transaction and should consider filing a Suspicious Activity Report. Here is the link: ‘Understanding Risks and Taking Action for art market participant businesses’