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Fine art isn’t just nice to look at – it’s also attractive to criminals trying to launder money, finance terrorism and trade illegal drugs and arms. And the Treasury Department wants art dealers and financiers to do something about that.
The agency recommends that financial firms and art dealers set up an information-sharing database to track how sales of fine art are linked to bad actors who make anonymous purchases.
Fine art isn't just nice to look at — it's also attractive to criminals trying to launder money, finance terrorism and trade illegal drugs and arms. And the Treasury Department wants art dealers and financiers to do something about that.
The agency recommends that financial firms and art dealers set up an information-sharing database to track how sales of fine art are linked to bad actors who make anonymous purchases.