The role and importance of the art market in the money laundering process
Arkadiusz Tomczyk
Uniwersytet Warmińsko-Mazurski w Olsztynie UWMhttps://orcid.org/0000-0001-7885-9411
Abstract
The article attempts to explore the issue of money laundering using the art market. The aim of the work is to present and analyse this sector of the economy—which is gaining importance—in terms of its exposure to participation in the money laundering process. Works of art appear to be an effective method—from the perspective of perpetrators of this crime—to mask the illegal origin of funds. Trade in such items can be conducted with the involvement of professional entities, including auction houses, art galleries, and intermediaries. The author examines their role and highlights the risks associated with their function in the context of money laundering. Despite Polish and international legislation recognising this issue and including these entities within regulations aimed at counteracting money laundering, their effective enforcement remains highly challenging, making combating and preventing money laundering difficult.
Keywords:
criminal law, antiques, arts, money laundering, organized crime, art marketReferences
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Uniwersytet Warmińsko-Mazurski w Olsztynie UWM
https://orcid.org/0000-0001-7885-9411
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This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
