18
Henry Pope , “ Art World Vulnerable to Money Laundering , U . S . Authorities Observe ,” Organized Crime and Corruption Reporting Project , February 9 , 2022 , https :// www . occrp . org / en / daily / 15924-art-world-vulnerable-to-moneylaundering-u-s-authorities-observe
19
Eileen Kinsella , “ Bad Banker ’ s $ 8 Million Basquiat Smuggled With Shipping Invoice for $ 100 Returns Home ,” Artnet , June 19 , 2015 , https :// news . artnet . com / market / smuggled-basquiat-returned-brazil-309813
20
Irina Tarsis , “ Knoedler Obituary ( 1857 – 2011 ): Select Legal History of the Oldest American Art Gallery ,” Center for Art Law , July 11 , 2019 , https :// itsartlaw . org / 2019 / 07 / 11 / from-the-archives-knoedler-obituary-1857-2011-select-legalhistory-of-the-oldest-american-art-gallery /
21
“ The Money Laundering , Terrorist Financing and Transfer of Funds ( Information on the Payer ) Regulations 2017 ( as amended ),” Legislation . gov . uk , https :// www . legislation . gov . uk / uksi / 2017 / 692 / contents / made ; Poppy Kemp , “ Focusing on the Anti-Money Laundering regulations for the art market participants in the UK ,” Center for Art Law , July 26 , 2022 , https :// itsartlaw . org / 2022 / 07 / 26 / focusing-on-the-anti-money-laundering-regulations-for-the-art-marketparticipants-in-the-uk /
22
“ Money Laundering — 18 U . S . C . §§ 1956 & 1957 ,” United States Department of Justice Archives , https :// www . justice . gov / archives / jm / criminal-resource-manual-957-money-laundering-18-usc-1956-1957
23
Simon NM Young , “ International Law : Money Laundering in International Law ,” Oxford University Press , 2021 , https :// www . oxfordbibliographies . com / display / document / obo-9780199796953 / obo-9780199796953-0233 . xml
24
“ International Emergency Economic Powers Act , 50 U . S . C . 1705 ,” Govinfo . gov , https :// www . govinfo . gov / content / pkg / PLAW-110publ96 / html / PLAW-110publ96 . htm
25
“ Anti-Money Laundering Laws and Regulations USA 2023 , ICLG — Anti-Money Laundering Laws and Regulations ,” ICLG . com , 2023 , https :// iclg . com / practice-areas / anti-money-laundering-laws-and-regulations / usa
26
See , for example , codes of conduct from art fairs and art market associations TEFAF and Art Basel , available at : “ Maastricht Code of Conduct of the European Fine Art Fair ( TEFAF ): Principles and Best Practices Regarding Diligent Art Trade ,” TEFAF , https :// www . tefaf . com / code-of-conduct ; “ Art Basel Art Market Principles and Best Practices ,” Art Basel , https :// d2u3kfwd92fzu7 . cloudfront . net / AB _ Art _ Market _ Principles _ and _ Best _ Practices . pdf
27
“ The Money Laundering and Terrorist Financing ( Amendment ) Regulations 2019 , 2019 No . 1151 ,” Legislation . gov . uk , https :// www . legislation . gov . uk / uksi / 2019 / 1511 / made
28
“ Arts and Antiquities ( AML Act Section 6110 ) of the Anti-Money Laundering Act of 2020 ,” Financial Crimes Enforcement Network , https :// www . fincen . gov / anti-money-laundering-act-2020 ; Note : The Financial Crimes Enforcement Network ( FinCEN ), the agency responsible for enforcing the BSA , has yet to issue implementing regulations for antiquities dealers .
29
The U . S . AML / CTF legal framework , as amended by AMLA , is codified in 12 U . S . C . 1829b , 12 U . S . C . 1951-1959 , 31 U . S . C . 5311-5314 and 5316-5336 ( this set of laws is commonly referred to as the Bank Secrecy Act ( BSA ). The implementing regulations are codified at 31 CFR Chapter X , https :// www . fincen . gov / resources / statutes-and-regulations / banksecrecy-act ; “ Public Law 116 – 283 — Jan . 1 , 2021 ,” Govinfo . gov , January 1 , 2021 , https :// www . govinfo . gov / content / pkg / PLAW-116publ283 / pdf / PLAW-116publ283 . pdf ; “ Title 31 — Money and Finance ,” Govinfo . gov , https :// www . govinfo . gov / content / pkg / USCODE-2020-title31 / pdf / USCODE-2020-title31-subtitleIV-chap53-subchapII-sec5336 . pdf
30
Ibid .
31
For example , please see : “ HMRC email updates , videos and webinars for money laundering supervision ,” Gov . uk , https :// www . gov . uk / guidance / help-and-support-for-anti-money-laundering
32
For example , please see : “ Guidance on Anti Money Laundering for UK Art Market Participants ,” British Art Market Federation , February 6 , 2023 , https :// tbamf . org . uk / wp-content / uploads / 2023 / 02 / BAMF-AML-Guidelines- February-6th-2023 . pdf
33
“ War & Art ,” War & Sanctions , https :// sanctions . nazk . gov . ua / art /
34
Center for Art Law is a nonprofit educational organization . For information about the Center , please visit www . itsartlaw . org
ACAMS Today September – November 2023 131