A study by the U.S. Treasury has ruled that further regulation around money laundering in the art world is not needed. “We have found that while certain aspects of the high-value art market are vulnerable to money laundering, it’s often the case that there are larger underlying issues at play, like the abuse of shell companies or the participation of complicit professionals, so we are tackling those first,†says senior overseeing official Scott Rembrandt.
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