Tainted treasures: money laundering risks in luxury markets

Filed under - Asset recovery

Report published 3 April 2017
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From Ukraine to Tunisia and Brazil, large-scale cases of grand corruption in recent years have involved the acquisition of luxury property, vehicles and goods. This report examines the risk of luxury goods and assets being used to launder the proceeds of corruption, including in the art world and the marketplaces for super-yachts, precious stones and jewels, high-end apparel and accessories, and real estate.

From fixing the gaps in international standards and national legislation to increasing the number of suspicious reports being submitted to authorities by luxury sector businesses, much remains to be done to reduce the scope for individuals using the proceeds of corruption to acquire and enjoy high-value goods and property, and to use these assets as a vehicle for laundering their ill-gotten gains.

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Country / Territory - International   |   China   |   France   |   Germany   |   Italy   |   Japan   |   United Kingdom   |   United States   
Region - Global   
Language(s) - English   
Topic - Asset recovery   |   Law enforcement   |   Private sector   
Tags - Money laundering   |   Real estate sector   |   Luxury lifestyles   |   Due diligence   |   Luxury goods   |   Real estate   |   customer due diligence   |   Luxury goods dealers   |   Super-yachts   |   Jewelry   |   Art market   

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