http://newsoncompliance.com/2015/06/bank-of-china-says-no-charges-yet-by-italy-over-multi-billion-dollar-money-laundering-inquiry/ According to the latest news on this long-running saga, “Prosecutors said more than 4.5 billion euros (US$5.1 billion) in proceeds from counterfeiting, prostitution, labor exploitation and tax evasion was sent to China in less than four years using a money-transfer service partly owned by Chinese migrants…[and that] the money had been fractioned into small […] Read More
Topic: Art Crime
Advance notice – Due to come out in November 2015. See the list of contributors and their subject chapters click here.
http://newsoncompliance.com/2015/06/italian-prosecutors-seek-bank-of-china-indictment-over-money-laundering-scheme/ A follow-up story on the alleged illicit capital outflow of Chinese money from Italy.
http://mobile.nytimes.com/2015/06/21/opinion/the-chinese-want-their-art-back.html?_r=1&referrer= Stolen to Order?
http://newsoncompliance.com/2015/06/what-do-they-do-with-the-money-italy-says-china-stymied-e4-5-b-money-laundering-probe/ Italy’s Chinatowns are booming whilst the rest of the economy stagnates – all thanks to China’s canny money launderers. Here’s how they do it.
http://www.lepanmedia.com/5-most-spectacular-cases-of-wine-fraud/ Following on from Toby Bull’s piece on wine fraud in the latest issue of the Journal of Art Crime, read some more on this nefarious trade by clicking on the link.
http://nypost.com/2015/06/16/opportunist-posed-as-apartment-employee-to-steal-40k-painting/ If only the Bonhams HK staff member had thought to tick the box stating that an adult signature upon receipt was needed – then the courier would have had to ask for ID. A small, but very costly, error.
http://newsoncompliance.com/2015/05/how-hong-kong-can-step-up-fight-against-money-laundering/ Out of 37,188 Suspicious Transaction Reports only 9 came from auction houses in 2014. Unbelievable!
http://www.thestandard.com.hk/news_detail.asp?pp_cat=30&art_id=157827&sid=44633052&con_type=1 Naive, Stupid or Greedy? All three? An experienced gallery owner being fleeced like a newbie. Obviously didn’t remember the saying, “if it’s too good to be true…”. Whilst not condoning the dishonesty of the swindle, more disturbing is the fact that once again we see the shady side of the art market at play; […] Read More
This new issue examines archaeological looting and art theft. Included in this issue is an editorial essay by Toby Bull entitled “The Grape War of China: Wine Fraud and How Science is Fighting Back”. To subscribe to the Journal of Art Crime contact ARCA.