New report shows urgent action needed to keep corrupt cash out of luxury goods market
In time for the first anniversary of the release of the Panama Papers, Transparency International will publish on 3 April a report exposing how luxury goods dealers rarely perform adequate due diligence, allowing corrupt customers to spend their stolen wealth on luxury goods with few, if any, questions asked.
In Tainted treasures: Money laundering risks in luxury markets Transparency International analyses the legislative and enforcement gaps which allow large-scale money laundering to occur in the luxury goods sector. It finds widespread risks of money being laundered, and limited measures in place to address those risks.
Money laundering risks in luxury markets
3 April 2017
00:01 am Berlin time
Available online at http://www.transparency.org
Embargo copies of the report and press release are available on request from [email protected].
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