Compliance
WEALTH TALK: Where Fine Art And AML Meets
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
