On the recommendation of the FATF (Financial Action Task Force), the European Union has adopted Directives to implement harmonized measures to combat money laundering and the financing of terrorism within the Union, the first of which dates back to June 1991.
The Directives now require you, players in the art and luxury goods market, to put in place an organization, procedures and internal control measures to enable you to detect atypical transactions and inform TRACFIN, the financial intelligence unit.
Lawmakers have taken the view that you, as art market professionals, are in the best position to detect signals that a transaction, a customer or a work of art could be sensitive. This is why they have imposed a number of vigilance measures on you.
Don't panic, Eunomart will guide you through the implementation of these procedures!
