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Financial Crimes Task Force Report Featured by Thomson Reuters

October 14, 2020

The Financial Crimes Task Force report was featured in a news article on September 28 by Thomson Reuters, described as “the world’s leading provider of news and information-based tools to professionals.”

Devised by a diverse group of experts, the Financial Crimes Task Force report features 44 recommendations for how the U.S. government, the U.S. financial industry, the international community and the U.S. art and antiquities sector can work together to keep financial crimes out of the $28.3 billion dollar American art market.

In addition to describing the contents of the report, article author Brett Wolf pulls quotes from our September 24 online release event, highlighting a moment in which Antiquities Coalition Founder and Chairman Deborah Lehr described the core issue behind how the U.S. handles the sales of art and antiquities.

“In the art market, it’s one of the only transactions to date where the buyer and the seller can still be anonymous, and we’re talking transactions that can sometimes reach into the hundreds of millions of dollars; there is the room for mischief,” Lehr said.

Wolf also quoted AC Executive Director Tess Davis, who emphasized during the webinar that the recommendations were not meant to harm law-abiding collectors, dealers and auction houses.

“This is about protecting the market from those who would exploit these weaknesses,” Davis said.

The full article is currently only available to clients subscribed to Thomson Reuters Regulatory Intelligence, a resource solution that Thomson Reuters promotes in its brochure as delivering “global coverage of over 1,000 regulatory bodies and more than 2,500 collections of regulatory and legislative materials.”

For more information about the Financial Crimes Task Force and its recent report, click here.