New UK anti-money laundering regulations in force

Art businesses accepting cash payments above 10,000 euros  (GBP8,361) in a single or series of linked operations are regulated as “high-value dealers” and in a change to the previous legislation are now required to register to carry out their activities.  Art businesses not accepting cash payments at this level fall outside the regulations but still need to comply with general anti-money laundering laws.[1]  Soon to be published on the RAM site, a  Country Guide giving an overview of the UK AML/CTF regime.


[1] The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017,