New US Bill Aims to Clamp Down on Money Laundering Through Art Holdings – ICIJ

The International Consortium of Investigative Journalists reported on new US legislation targeting money laundering and sanctions evasion through the art market, noting the US remained an anomaly in not yet subjecting the art trade to AML/CFT obligations already imposed by the EU and UK. The move followed a 2024 Treasury report finding the domestic art market vulnerable to illicit finance.