The Insurance sector’s ongoing fight against fraud and financial crime
Art and Antiques Dealers
Anti-Money Laundering Regulations for Art and Antiques Dealers
Since 2020, Art Dealers are required to comply with the Anti-Money Laundering Regulations for all transactions which exceed £10,000.
This means that Art Dealers must obtain authorisation from HMRC (who provides the regulation) and implement the appropriate client due diligence to comply with the regulations.
We work with Art and Antiques Dealers to secure this authorisation and with those who already have it to ensure they have effective policies and procedures in place to meet their regulatory requirements on an ongoing basis.
Our compliance services for Art and Antique Dealers include:
- Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) compliance
- GDPR and Data Protection compliance
- Bribery Act 2010 compliance
- Employment Regulations compliance
- Complaint investigations, management and handling
Further details of the services we provide are contained on our services page, which you can review to obtain detailed information on how we work with Art and Antique Dealers.
Art market participants now have until June 10th 2021 to become fully compliant to the regulations.
The UK art market now one of the sectors that is officially regulated for anti-money laundering and counter-terrorist financing compliance.