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The Art of Money Laundering
Article

The Art of Money Laundering

The loosely regulated art market is rife with opportunities for washing illicit cash

IMF, 2019

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Editorial Rating

8

Qualities

  • Overview
  • Background
  • Engaging

Recommendation

Because the market for fine art and antiquities is secretive and largely unsupervised, it is a haven in which criminals can easily launder their ill-gotten gains – to the tune of an estimated $3 billion in 2018. In this concise and illuminating article, journalist Tom Mashberg paints a colorful picture of what is largely the last unregulated financial market in the world.

Take-Aways

  • The rarified art market is a choice venue for money launderers.
  • Regulators are getting wise to, and seeking to close, the loopholes that art affords money launderers.

About the Author

Tom Mashberg is a syndicated journalist who writes about crimes in art and rare artifacts.