Art world links which caught my eye…

Money Laundering?
The establishment art world is in many ways an elaborate money laundering scheme.
Works of art have long been identified, and sometimes even romanticized, as ideal ways for racketeers to launder money. There’s a thread of logic here: the art world typically accommodates those that want to anonymously buy high-dollar paintings, and on top of that, the industry allows large cash deals. For those looking to launder money, it’s difficult to conjure up a more attractive set of circumstances than those.
There also seems to be plenty of instances where art has played a role in the act of money laundering. Consider that when the Mexican government passed a law in the early 2010s to require more information about buyers, and how much cash could be spent on a single piece of art, the market cratered, as sales dipped 70 percent in less than a year. Many believed that was because Mexican cartel rings had previously been the biggest buyers in the market.
Read the full article here: ART & OBJECT – How Money Laundering Works In The Art World
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