Money Laundering Issues in the Art Market — White & Case LLP

White & Case published a legal analysis noting that the 2020 U.S. Senate Permanent Subcommittee on Investigations report identified approximately $18 million in artwork purchased for the benefit of two sanctioned individuals, highlighting the art market's structural vulnerability to money laundering. The firm highlighted that the art market's tradition of privacy, use of intermediaries, and anonymous buyers makes it an attractive vehicle for organized crime and sanctions evasion.