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Laundering The Art Market: A Proposal For Regulating Money Laundering Through Art In The United States, Alessandra Dagirmanjian

Fordham Intellectual Property, Media and Entertainment Law Journal

As high-net worth individuals have increasingly viewed art as a method of diversifying their portfolios, prices in the high-end global art market have exploded in the past several years. At the same time, investors have developed new methods for accessing art’s liquidity, such as art lending services and exchanges. While the changing character of art towards an asset class has opened the door to new investment opportunities, it has also left the art market particularly vulnerable to money laundering schemes. Existing characteristics of the art market, including a lack of uniform record-keeping standards among dealers and the speculative nature of …