Cassidy Introduces Legislation to Crack Down on Money Laundering, Terror Financing in Art Market

Senator Bill Cassidy introduced legislation targeting money laundering and terror financing through the US art market, citing Treasury's identification of the sector as particularly susceptible to sanctions evasion, including cases where multiple Kremlin-linked figures such as the Rotenbergs used art to evade sanctions. The bill also referenced the indictment of Hezbollah financier Nazem Ahmad, who used art as part of a scheme to launder over $160 million.