alexa Self-Regulation in the Art World and the Need to Prevent Money Laundering
ISSN: 2151-6219

Business and Economics Journal
Open Access

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Research Article

Self-Regulation in the Art World and the Need to Prevent Money Laundering

Fausto Martin De Sanctis*

Federal Appellate Judge in Sao Paulo, Brazil

*Corresponding Author:
Dr. Fausto Martin De Sanctis
Federal Appellate Judge in Sao Paulo, Brazil
Tel: +374 10 23-72-61
Fax: +374 10 28-07-33
E-mail: [email protected]

Received date: September 09, 2014; Accepted date: September 23, 2014; Published date: September 30, 2014

Citation: Sanctis FMD (2014) Self-Regulation in the Art World and the Need to Prevent Money Laundering. Bus Eco J 5:108. doi: 10.4172/2151-6219.1000108

Copyright: © 2014 Sanctis FMD. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.

 

Abstract

Organized crime has had a relatively free hand in its efforts to make criminal assets legal. This is made possible by some ineffectiveness of current national and international laws, which have not kept pace with the changing situation. Due to the fact that there is no particular concern with art, criminals and those involved in illegal activities have discovered the art world to be a real and clandestine arena through which money can be laundered. The following article argues for careful situation involving the actors of the art sector, notably its self-regulation, in order to curb money laundering through art.

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