Angelika Hellweger explains the art world’s need to tackle money laundering and terrorist financing risks

Angelika Hellweger examined the issues regarding an art dealer’s jailing to highlight money laundering and terrorism dangers that the sector must address.

London-based dealer Oghenochuko Ojiri was imprisoned for two years and six months after becoming the first person to be charged with a specific offence under section 21A of the Terrorism Act 2000. That section relates to obligations on individuals in the regulated sector to disclose information to law enforcement if they suspect or know that another person has committed or is about to commit a terrorism-related offence. 

In a piece published by Solicitors Journal, Angelika explains the facts of the case. She emphasises that the art market is one of the most structurally vulnerable sectors from an anti-money laundering and countering the financing of terrorism (AML/ CFT) perspective.  

Angelika details the obligations on those in the art market, the problems some have meeting those obligations and how they can overcome this “significant operational gap’’.

Featured at: Solicitors Journal