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INSIGHT: Art experts fear UK’s AML crackdown will push rich buyers to New York and Hong Kong

Pablo Picasso's 1932 painting "Femme a la Montre" is displayed at an auction at Sotheby's, in New York City, U.S., November 8, 2023. REUTERS/Ben Kellerman

BY PAUL O’DONOGHUE, Senior Correspondent

Tighter AML rules in the UK art sector could put off wealthy collectors and drive them to markets like New York and Hong Kong, experts have warned. 

Several industry figures say the regulations, which require stricter checks on art buyers, are making it harder for London to compete.

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