More cultural heritage plundering. Whilst there is good money to be made from looting and smuggling and hardly any questions asked or due diligence conducted, is it any wonder we keep reading about such stories? http://news.xinhuanet.com/english/2015-08/02/c_134472668.htm

According to the Financial Action Task Force (FATF), casinos are put in the category of a Designated Non-Financial and Business Profession (DNFBP) and so are subject to certain compliance checks and balances, due diligence procedures, etc – much the same as are in place for the financial sector. The art sector, however, is not even classified […] Read More

https://news.artnet.com/market/chinese-turmoil-melt-art-market-321521?utm_campaign=artnetnews&utm_source=080215daily&utm_medium=email  

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

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.