Financial Crimes Task Force Report Featured by Global Investigative Journalism Network
October 2, 2020
The Antiquities Coalition’s Financial Crimes Task Force report was featured in a weekly news compilation on October 2 by the Global Investigative Journalism Network, described as “an international association of journalism organizations that support the training and sharing of information among investigative and data journalists—with special attention to those from repressive regimes and marginalized communities.”
Devised by a diverse group of experts, the Financial Crimes Task Force 2020 report features 44 recommendations for how the U.S. government, the financial industry, the international community and the art and antiquities sector can work together to keep financial crimes out of the $28.3 billion dollar American art market.
GIJN Managing Editor Tanya Pampalone wrote this synopsis for the “What We’re Reading” news compilation:
Here’s a big number you probably weren’t aware of: The US art market is worth $28.3 billion. According to The Antiquities Coalition and its Financial Crimes Task Force, this is the largest unregulated market in the world, making it vulnerable to a wide range of international financial crimes. From Monets to van Goghs, artworks are often used as tools to launder cash for drug smugglers, kleptocrats, white-collar embezzlers, and terrorists. Their study, released last week, details some of the risks, including terrorist financing, sanctions violations, tax evasion, fraud and forgeries. Also included are 44 recommendations for the US government, the art market, the financial industry, and the international community — plenty of material for journalists to dig into.
For more information about the Financial Crimes Task Force and its recent report, click here.