- April 13, 2021
- Posted by: FCS Compliance
- Category: Press
HMRC has renamed its Anti Money Laundering Supervision team as Economic Crime Supervision (ECS). The services will continue as normal.
Art market businesses must register under the 5th Money Laundering Directive by June 10 this year.
The 5th Money Laundering Directive (known as 5MLD) took effect on January 10, 2020. It requires auction houses, art galleries and dealerships to conduct stricter due diligence on buyers who purchase works of art above a threshold of €10,000.
Read the full article by Laura Chesters of Antiques Trade Gazette here.
Next AML training course for Art Market Participants:
26 and 27 May (9:30am to 11:30am)
Book your place here