Painting the picture: why art dealers should be added to Australia’s designated non-financial businesses and professions definition

IF 1.3 Q3 CRIMINOLOGY & PENOLOGY Journal of Money Laundering Control Pub Date : 2024-04-30 DOI:10.1108/jmlc-01-2024-0020

Sophie Martin

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Abstract

Purpose

This paper aims to demonstrate to lawmakers that the addition of art dealers to the designated non-financial businesses and professions (DNFBPs) definition would provide Australia with more comprehensive protection against money laundering within the art market.

Design/methodology/approach

The paper opted for an exploratory study using doctrinal and jurisdictional comparative analysis that focused on arguments for and against the inclusion of art dealers in respective DNFBPs definitions. Evaluation of these arguments concludes that art dealers should be included in Australia’s DNFBPs definition and subject to anti-money laundering (AML) regulation.

Findings

The current omission of art dealers from Australia’s DNFBPs definition perpetuates AML vulnerabilities within the Australian art market.

Originality/value

This paper fulfils an identified need to study high-value dealers not included in Australia’s DNFBPs definition and provide arguments for and against the inclusion of Australian art dealers in the listed DNFBP.

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描绘图景：为何应将艺术品经销商纳入澳大利亚指定的非金融企业和行业定义中

本文旨在向立法者证明，将艺术品交易商纳入指定非金融企业和行业（DNFBPs）的定义中，将为澳大利亚提供更全面的保护，防止艺术品市场中的洗钱活动。本文选择了一项探索性研究，采用理论和司法比较分析的方法，重点关注将艺术品交易商纳入指定非金融企业和行业（DNFBPs）定义的正反两方面论点。对这些论点的评估得出结论，艺术品交易商应被纳入澳大利亚的 DNFBPs 定义，并接受反洗钱（AML）监管。原创性/价值本文满足了研究未被纳入澳大利亚 DNFBPs 定义的高价值交易商的明确需求，并提供了支持和反对将澳大利亚艺术品交易商纳入所列 DNFBP 的论点。

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来源期刊

Journal of Money Laundering Control CRIMINOLOGY & PENOLOGY-

CiteScore

2.70

自引率

27.30%

发文量