Webinar on May 31, 2023, organized and moderated by Violette Taquet, founder of Eunomart, and Solène Clément, Eunomart contributing partner, Attorney at Law at the Paris Bar and Founding President of OLAB.
During this educational hour, participants were able to ask questions and learn a little more about regulations and the 5th Directive 2020 to combat money laundering and terrorist financing for the art market.
Chapters :
00:00 Introduction
00:34 How does the art market finance terrorism?
02:48 Can the contemporary art market also finance terrorism?
05:10 Who is affected by LCB-FT regulations?
07:51 What are the main institutions and players involved in LCB-FT?
11:50 What is the practical application of the regulations for art professionals? 18:01 Is customer information protected in the application of this vigilance? 19:40 How do we assess the occasional customer? What's the difference with a business customer?
22:16 An art professional talks about his experiences in the fight against money laundering.
25:55 What about free ports?
26:50 What are the sanctions provided for by the Commission Nationale des Sanctions?
29:16 Do you know of any galleries that have been inspected?
31:13 Has the police book ever been inspected?
32:33 What is the reference of the ECHR ruling that validated the LCB-FT system?
33:10 What solutions exist to ensure compliance as an art professional? 35:09 Introduction of Eunomart software
39:34 Is it necessary to analyze risks on objects?
41:33 How much does Eunomart cost?
42:52 What is the difference between art professionals and other regulated parties when it comes to risk analysis requirements?
44:00 How long does it take to draw up a risk map and a customer analysis?
47:05 How do you carry out a risk analysis for looted objects that have already been laundered?
50:54 On whom does vigilance apply?
52:21 Conclusion