THE ART OF MONEY LAUNDERING: The loosely regulated art market is rife with opportunities for washing illicit cash.

The article discusses that the art market is an ideal playing ground for money laundering. It mentions under the Illicit Art and Antiquities Trafficking Prevention Act under consideration in Congress, the US government would require dealers in art and antiquities to establish anti-money-laundering programs; and also mentions in the European Union, under its Fifth Anti-Money Laundering Directive, art businesses would be obliged to augment efforts to vet customers.