Jerry Walters of FCS Compliance becomes member of PAIAM (Professional Advisors to the International Art Market)

Jerry Walters, Managing Director of anti-money laundering (AML) specialists FCS Compliance, has been approved by the Board to become a member of PAIAM, Professional Advisors to the international Art Market.

Founded in 2011, PAIAM brings together specialist advisors services to the art market. Its members include lawyers, accountants, tax advisers, insurance and compliance professionals.

Recognised as a valued resource for art collectors, art businesses and art professionals worldwide, PAIAM has chapters in both London and New York. Its board members include: Antonia Kimbell, independent consultant specialising in risk management and the recovery of stolen art; Cecilia Fletcher worldwide head of compliance & business integrity at Sothebys; Adam Prideaux, CED of Hallett Independent, a specialist art, museum and heritage insurance broker and Azmina Jasani partner at law firm Constantine Cannon. PAIAM’S chairman is Gregor Kleinknecht partner at law firm Hunters.

Jerry Walters is the Founder and Managing Director of FCS Compliance, a leading provider of AML services to the art and property sectors. He has over 30 years’ experience of working in financial fraud and crime enforcement at Thames Valley and the City of London Police. During this time, he investigated and lead the prosecution of serious and complex fraud and money laundering cases both domestically and globally.

Jerry is a member of the International Compliance Association (ICA) and holds an Advanced International Diploma in Anti-Money Laundering and Counter Terrorist Financing.

Commenting on becoming a PAIAM advisor Jerry said; “I am delighted to be made a member of PAIAM and look forward to helping art market participants meet their AML legal obligations. Businesses should be under no illusion about the potential consequences of compliance failure – not just the significant fines but also the reputational damage caused to organisations.” He added, “Criminal activity remains ever-present in the industry and, as we have seen in other regulated sectors, whatever the business climate, HMRC will always take action against non-compliant firms, large or small.”

FCS Compliance will hold its next Foundation Level AML Training course for art market participants on 26 and 27 May.
Details can be found here.