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’
Corinth Consulting
AML Compliance Programs