Money Laundering and Antiquities

Abstract

Recent amendments to anti-money-laundering regulations in Europe and the United States have implicated antiquities in money laundering. This is despite the fact that there is very little evidence that antiquities are actually used for money laundering. There is in contrast ample evidence that the antiquities themselves are laundered, as are the criminal proceeds of antiquities sales. Some information suggests that antiquities might be used for trade-based money laundering, though if they are, the financial thresholds incorporated into money laundering regulations would radically diminish the effectiveness of the regulations.

Keywords: Art; antiquities; trade; money laundering; terrorist financing