Corruption agency hopes portal will ‘make it difficult for Russian oligarchs to sell such assets’

  • tal@kbin.social
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    1 year ago

    Artworks can be relatively easily sold across national borders without alerting the authorities, with the subjective nature of the value allowing prices to be easily inflated or deflated.

    I have, for a long time, wondered what portion of the high-end art market consists of money laundering. Those are exactly the properties one would want for a money laundering vehicle.

    The NACP said Russian oligarchs were still all too easily able to “hide and launder their money through art objects” despite the sanctions imposed on them.