Duration: 12.10

This is the sixth edition of a video series by this news service in partnership with international law firm, Kobre & Kim.

This is the sixth episode in a set of videos produced by New York-based law firm Kobre & Kim exploring areas of concern for private clients. The videos are being issued by this news service, and we are delighted to continue sharing this valuable content. (To see the fifth edition, click here.)

In episode 6 of our series, Robin Rathmell sits down with New York-based private client lawyer Jason Short to discuss the art world, which has become an increasing target of anti-money laundering (AML), sanctions and other types of enforcement actions from government organizations around the world. Jason represents high net worth individuals with global business interests in offensive and defensive strategies related to cross-border government investigations, with a particular focus on matters involving asset forfeiture and confiscation proceedings, where he regularly performs asset stress tests, clean funds analyses and asset tracing and recovery initiatives, often with hundreds of millions of US dollars at stake.

In their conversation, the two take a look at specific developments over the past year in AML legislation or directives aimed specifically towards the art world. They also focus on how the US continues to lag substantially behind the EU and UK in terms of regulatory actions - rendering the US an “ideal playground” for money laundering - and efforts being undertaken by the US government to reverse this trend in 2021.

To find out more about the Wealth Talk video series and how to get involved, email tom.burroughes@wealthbriefing.com