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By Adrien CHIARIELLO, Manager and Maxime HECKEL, Director, Deloitte Luxembourg
The last decade has been marked by trends that any observer of the art market could not have missed. On the one hand, sales have been breaking records with the value of certain artworks going through the roof, on the other, the number of headlines related to art crimes is on the rise. Whereas there is no clear correlation between these two trends, it has thrown shade over the industry, calling out the lack of regulation and transparency. Since last June, advocates of regulation have finally found echo in the fifth Anti-Money Laundering Directive (AMLD V) published by the European Commission.
How will this Directive apply to the art market? Article 1 of AMLD V...
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