The art market is confronted with a new law, which comes with additional requirements. The 5th EU money laundering directive has been converted into national law on January 10. Now, art dealers and art brokers are obliged to identify clients and to assess risks. Affected are transactions with a value of 10,000 euros or more – not only the cash business, but all other transactions.
Terrorists running online fundraisers. Cryptocurrencies are their preferred payment method. A new challenge for compliance.
International Compliance In many countries the number of compliance laws and regulations has multiplied over the last decade. This has led to major discussions and a rapid development of the compliance sector. The pressure is high, but it goes without saying, that all national laws and guidelines must be complied with. For international business, things get even more complicated. While