Blog
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Beyond the Passport: Protecting the Art Market from Cyberfraud and Impersonation
- May 28, 2025
- Posted by: FCS Compliance
- Category: Art Market, Blog
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Cyberfraud is on the rise in the art market, especially among remote clients. Learn how to go beyond collecting ID documents with practical steps to verify customer identity and stay compliant with UK AML regulations.
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UK Property and Dirty Money: A Closer Look at the Risks and Realities
- May 28, 2025
- Posted by: FCS Compliance
- Category: Blog, Property Market
Dirty money in UK property is on the rise. Learn why robust Customer Due Diligence is vital for estate agents and how to strengthen your AML defences.
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Join us at ArtLogic’s Connect ’24 Event
- November 14, 2024
- Posted by: FCS Compliance
- Category: Art Market, Blog
Our very own Rena Neville, Head of FCS Compliance Art Division will be an expert panelist at ArtLogic’s Connect ’24 Event, 19 – 21 November. ‘Connecting those who create, sell, and buy art to learn and grow together at the online conference for the art world.’ What to expect Join Connect 2024 to explore
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Is It Really HMRC Contacting You? How to Avoid Scammers
- October 23, 2024
- Posted by: FCS Compliance
- Category: Art Market, Blog
Written by Rena Neville, Head of Art Division, FCS Compliance Understanding HMRC Communication: A Guide for Businesses In today’s digital age, distinguishing between genuine communication from HMRC and potential scams is crucial. Whether it’s a call, text, or WhatsApp message, being certain of the source is essential for safeguarding your personal and business information. This
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Art Market Red Flags: Indictment of Russian TV Figures
- October 20, 2024
- Posted by: FCS Compliance
- Category: Art Market, Blog
Written by Rena Neville, Head of Art Division, FCS Compliance In a stark reminder of the importance of robust Anti-Money Laundering (AML) practices in the Art Market, US authorities have indicted Dimitri Simes, a prominent Russian state television personality, and his wife, Anastasia Simes, for violating sanctions and committing money laundering offences. The charges underscore
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COMING SOON – Mock HMRC Inspections: Would your business be prepared if HMRC knocked?
- October 17, 2024
- Posted by: FCS Compliance
- Category: Blog, Promotion, Property Market
Written by Malcolm Driscoll, Lead AML Consultant, FCS Compliance As HMRC intensifies its scrutiny of financial crime, Estate Agents should think about prioritising their Anti-Money Laundering (AML) compliance obligations. The property market is a prime target for money laundering, and adhering to AML regulations is essential. Non-compliance can lead to severe financial penalties, reputational damage,
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AMPs: Do You Accept Cash?
- July 9, 2024
- Posted by: FCS Compliance
- Category: Art Market, Blog
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
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
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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2024 – The Year of Elections
- July 2, 2024
- Posted by: FCS Compliance
- Category: Blog, Property Market
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
