By Vish Gain for AMLi
AN AMBER ALERT has been issued to London’s art galleries after fears that potentially hundreds of millions of pounds are being laundered through the sale of expensive artworks without much surveillance in the sector.
The alert was issued by the National Crime Agency, Britain’s top watchdog, to warn dealers across the country they need to do more to prevent money laundering in the lucrative sector that sees little to no regulation, making it easier for criminals to get away with illicit activity.
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