Art traders likely to become obliged entities in UK’s AML/CFT money laundering act
Art market participants, including freeport operators that store works of art, are likely to become obliged entities in the UK’s key piece of anti-money laundering and counter financing of terrorism (AML/CFT) legislation, the Money Laundering Regulations 2017 (MLRs). The UK has published a consultation paper…
Illicit fund flows forcing bank closures on the US-Mexican border precipitates official rethink
Banking officials in the US have agreed to consider revising money-laundering regulations after a new report blamed tough regulations and heavy fines for a rash of bank closures along the Mexican border in recent years. Several banks have been concerned about the risk of trade-based…
