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2024 July

  • AMPs: Do You Accept Cash?

    • July 9, 2024
    • Posted by: FCS Compliance
    • Category: Art Market, Blog
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    AMPs: Do You Accept Cash?

    AMPs: Do You Accept Cash? …If so, should you register with HMRC as a High Value Dealer (HVD)? Not all cash payments create a duty to register with HMRC for supervision for anti-money laundering.  However, any businesses or sole traders that make or receive cash payments of 10,000 euros (or equivalent in another currency) or

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  • Property Case Study – Proliferation Financing SAR

    • July 8, 2024
    • Posted by: FCS Compliance
    • Category: Blog, Property Market
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    Property Case Study – Proliferation Financing SAR Written by Jen Siwicki, Senior AML Consultant, FCS Compliance Last year in July HMRC updated the Estate and Letting Agency Business Guidance to include the issue of ‘proliferation financing’.  It’s an important document, not least because it’s this document written by the regulator and is specific to Estate Agency Businesses

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  • Auction House Due Diligence: What AMPs need to know

    • July 7, 2024
    • Posted by: FCS Compliance
    • Category: Art Market, Blog
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    Auction House Due Diligence: What Art Market Participants (AMPs) need to know How does Due Diligence work for Auction Houses? The answer is the same for nearly every anti-money laundering question; it depends – mainly on the scenario.  Key factors that govern the answer include; whether the AMP is buying or selling art at auction,

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  • MEET PATRICE DOLOR – AML ANALYST, FCS COMPLIANCE

    • July 6, 2024
    • Posted by: FCS Compliance
    • Category: Uncategorized
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    In this interview, FCS PR Director, Alison Blease introduces you to Patrice Dolor, AML Analyst at FCS Compliance.  Dated: July 2024 AB:  Today I am joined by Patrice Dolor, AML Analyst at FCS Compliance.  Patrice has been with the company since December 2022, but before then worked for HMRC as a compliance officer. Lovely to

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  • 2024 – The Year of Elections

    • July 2, 2024
    • Posted by: FCS Compliance
    • Category: Blog, Property Market
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    2024 – The Year of Elections Written by Stephen Williamson, Senior AML Consultant, FCS Compliance 2024 has been dubbed “the biggest election year in history” by some political commentators with 90 elections and referenda to be contested across at least 64 countries as well as in the European Union. Among these of course has been

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  • HMRC Updates: Who must Register as an Art Market Participant

    • July 1, 2024
    • Posted by: FCS Compliance
    • Category: Art Market, News
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    HMRC Updates: Who must Register as an Art Market Participant (AMP) On 15 May 2024, HMRC updated its website with advice about when to register as an Art Market Participant for supervision under the Money Laundering Regulations.[1]  After quoting the regulations about who qualifies as an art market participant, one of the highlighted topics was

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