• A look back at the Customs 2023 AML self-assessment campaign

  Between June and October 2023, Customs conducted a self-assessment campaign among the professionals under its supervision, aimed at achieving two main objectives: For professionals: to assess their level of knowledge of the regulations and the compliance of their LCB-FT system on a declarative basis. For customs: to obtain information on the sector's general understanding of the regulations, and to gain a better understanding of the market (frequency of transactions over €10,000, aFew readers

• Commission Nationale des Sanctions: new professionals sanctioned.

  The Commission Nationale des Sanctions (CNS) continues to play a central role in regulating the activities of art market professionals in France. Whether you are a gallery owner, auctioneer or antique dealer, you are subject to strict obligations to combat money laundering and the financing of terrorism (LCB/FT). These obligations include verifying customer identity, reporting suspiFew readers

• Monaco added to the GAFi grey list

  On Friday June 28, 2024, the Financial Action Task Force (FATF) placed Monaco and Venezuela on its “enhanced surveillance” gray list. In a press release, the GAFi specified that these two territories required enhanced surveillance. ​ Although Monaco has made significant progress, GAFi stressed the importance of improving the fight against tax fraud, offshore money laundering and the application of dissuasive sanctions. Monaco had already been called to account in January 2023 for improvemFew readers