The art market is often described as ‘niche’. In reality, it is a significant trade industry: sales of art and antiques by dealers and auction houses reached an estimated USD 65.1 billion in 2021. And like many industries of this size, it attracts people seeking to abuse it to launder proceeds of crime or evade sanctions.

This quick guide briefly explains the unique characteristics of the art market that make it vulnerable to this type of abuse. It also outlines steps that jurisdictions can take to prevent and combat abuse of the sector for illicit purposes.

A Basel AML Index briefing following the decision of the Financial Action Task Force (FATF) to remove Morocco from its list of jurisdictions under increased monitoring (“grey list”) in February 2023.

The briefing covers the main issues that led to Morocco being grey-listed in February 2021, the action plan developed to address them, and publicly available data on how it was implemented. 

A Basel AML Index briefing following the decision of the Financial Action Task Force (FATF) to remove Cambodia from its list of jurisdictions under increased monitoring (“grey list”) in February 2023.

The briefing covers the main issues that led to Cambodia being grey-listed in February 2019, the action plan developed to address them, and publicly available data on how it was implemented. 

This is a Basel AML Index briefing following the decision of the Financial Action Task Force (FATF) to delist Nicaragua from its list of jurisdictions under increased monitoring (“grey list”) in October 2022.

The briefing covers the main issues that led to Nicaragua being grey-listed in June 2021, the action plan developed to address them, and publicly available data on how it was implemented. 

This is a Basel AML Index briefing following the decision of the Financial Action Task Force (FATF) to delist Pakistan from its list of jurisdictions under increased monitoring (“grey list”) in October 2022.

The briefing covers the main issues that led to Pakistan being grey-listed in June 2021, the action plan developed to address them, and publicly available data on how it was implemented.