"How to prevent Monet Laundering" - Nicola Finnerty features in The Times

18 March 2021

Nicola Finnerty, Partner in our Criminal Litigation team features in The Times looking at how the 5th Anti-Money Laundering Directive (AMLD5) can be seen as a crucial tool to crack down on financial abuse in the art market.
 

In total, it is estimated that the global art market is valued at more than £50 billion with the United Nations Office on Drugs and Crime suggesting that every year, £2.3 billion of this could be linked to money laundering and other financial crime.

Nicola commented:

The decision to regulate the businesses in this sector is not surprising given the extent to which criminals see trading in works of art as an ideal opportunity to launder the proceeds of their crimes."

The Times also highlighted that Kingsley Napley is playing a pivotal role in the launch of a training and awareness programme for Art Market Participants (AMPs) that is supported by Creative United and the three Arts Councils across the UK.

You can read more about this training and awareness programme by clicking hereRegistration for the training programme for all eligible AMPs is now open through the Creative United website.

The article was first published by The Times on 18 March 2021 which you can read in full by clicking here (subscription required).

Further information

For further information on the issues raised in this news article, please contact a member of our criminal litigation team.

 

About the author

Nicola Finnerty is a Partner in our Criminal Litigation team and a leading expert in white collar and business crime, proceeds of crime & asset forfeiture. Over the last 25 years she has been involved in many of the most high-profile, complex criminal and regulatory investigations and prosecutions, both in the UK and in matters which span multiple jurisdictions. Her expertise includes money laundering, fraud & bribery and corruption along with being regularly consulted by individuals and institutions in the regulated sector in respect of the Money Laundering Regulations 2017. Nicola represents high net worth individuals, multi nation corporate clients, financial institutions and professional firms in investigations and proceedings brought by UK enforcement agencies. She is Kingsley Napley’s deputy Money Laundering Reporting Officer.

 

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