Rahman Ravelli
Rahman Ravelli Solicitors Logo
Rapid Response Team: 0800 559 3500
Switchboard: +44 (0)203 947 1539

About Us Expertise PEOPLE International Legal Articles News Events Contact Us toggle button for phone toggle button for search
Rapid Response Team: 0800 559 3500
Switchboard: +44 (0)203 947 1539
Rapid Response Team: 0800 559 3500
Switchboard: +44 (0)203 947 1539

Angelika Hellweger details the art world’s money laundering weaknesses

Author: Dr. Angelika Hellweger  3 October 2023

Posted in : Anti-Money Laundering .

The lack of scrutiny of art transactions was the subject of a piece by Angelika Hellweger.

In her article, which was published by Wealth Briefing, she outlines the shortage of regulation in the art market and the resulting potential for money laundering and sanctions evasion.

Angelika says that while the art market is subject to regulation in the UK and European Union, there are large parts of the world where this is not the case. She cites the current situation in both the US and Switzerland – which are major centres for art sales.

She explains that the lack of anti-money laundering provisions in two of the five main art selling nations means that neither the purchaser nor the seller are obliged to verify the identity of the other. With many art sales taking place involving intermediaries or shell companies, she concludes that there is an obvious appeal to those looking to launder money.

As a result, art sales totalling millions or even billions are being conducted without being scrutinised.

The full article can be read here.

angelika 08780r lores

Dr. Angelika Hellweger

Legal Director

+44 (0)203 597 9783 vCard

Download Profile PDF

View Profile

Angelika is a specialist in international, high-level economic crime investigations and large-scale commercial disputes. She has widely-recognised expertise in representing corporates and conglomerates in Europe, the Middle East, Africa and United States.

Share this article on