Art
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£2M in Fines for a Simple Mistake – How Are Businesses Still Getting This Wrong?
- March 20, 2025
- Posted by: FCS Compliance
- Category: Art Market, News, Property Market, Uncategorized
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HMRC has fined businesses over £2M for lapsed MLR registrations. Avoid costly mistakes—use AML Protect, a free reminder service. Sign up today!
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5 AML Watchouts for AMPs in 2025
- February 6, 2025
- Posted by: FCS Compliance
- Category: Art Market, News
As we look ahead to 2025, there are several important developments on the horizon for art market participants (AMPs) that will shape compliance efforts, regulatory obligations, and industry trends.
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Sanctions Update: Free Webinar for AMPs
- February 6, 2025
- Posted by: FCS Compliance
- Category: Art Market, News, Promotion
**Important AML Update** New Sanctions Obligations from May for all AMPs Free webinar | 12pm to 1pm (BST) | Friday 7 March What are the practical consequences when on 14 May Art Market Participants (AMPs) come under an additional regulator, the Office of Financial Sanctions Implementation (OFSI)? OFSI has the power to impose significant penalties
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The free HMRC registration renewal tool: AML Protect
- September 24, 2024
- Posted by: FCS Compliance
- Category: Uncategorized
September 2024 FCS Compliance Launches AML Protect We are proud to announce the launch of AML Protect, a free service designed to help businesses navigate the crucial task of renewing their AML registration with HMRC. This innovative service is open to all businesses registered with and regulated by HMRC, not just FCS Compliance clients. The
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How important is it for AMPs to maintain appropriate AML records?
- April 25, 2023
- Posted by: FCS Compliance
- Category: Uncategorized
How important is it for Art Market Participants (AMPs) to maintain appropriate AML records? Written by Rena Neville, Lead AML Consultant, FCS Compliance, Art Division The short answer? It is very important to keep appropriate AML records, as failure to do so may be a crime. The following Q&A delves into this further: Is HMRC
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Meet Paula Trommel – Senior AML Consultant, FCS Compliance, Art Division
- January 4, 2023
- Posted by: FCS Compliance
- Category: Blog
Find out more about the AML experts at FCS. In this interview, FCS PR Director, Alison Blease introduces you to Paula Trommel… I’m delighted to be joined today by Paula Trommel, Senior AML consultant for FCS Compliance’s new Art Division. Welcome! Hello, thank you for having me. I believe you’re in Milan at the moment?
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Art Market Event Dates for the Diary: September – December 2022
- July 12, 2022
- Posted by: FCS Compliance
- Category: Blog
Art Market Event Dates for the Diary: September – December 2022Provided by: Rena Neville – Lead AML Consultant, FCS Compliance Art Division and Paula Trommel – Senior AML Consultant, FCS Compliance Art Division There are so many wonderful initiatives and events that it would be impossible to add them all, but here are just a
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FCS Compliance announces partnership with Snoofa, specialist software provider for auctioneers and art market participants
- January 28, 2021
- Posted by: FCS Compliance
- Category: News
Anti-money laundering (AML) experts, FCS Compliance today announced a new partnership with Snoofa, bespoke software providers for auction houses, high value dealers and art market participants.
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Money laundering legislation and the art world
- January 13, 2021
- Posted by: FCS Compliance
- Category: Blog
The time for AMPs to put AML on the back burner has now passed
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Government publishes its 2020 National Risk Assessment of money laundering and terrorist financing
- December 18, 2020
- Posted by: FCS Compliance
- Category: News
On 17 December 2020, the UK Government published its National Risk Assessment (NRA) of money laundering and terrorist financing. The last report was published in 2017. Here are some key findings to note: Money laundering risk scores increase: for property, the risk score is increased from ‘Medium’ to ‘High‘ for estate agencies, the score moves
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