Saudi Press

Saudi Arabia and the world
Saturday, Aug 23, 2025

London galleries issued with money laundering ‘amber alert’ on top artworks

London galleries issued with money laundering ‘amber alert’ on top artworks

London’s galleries have been given an “amber alert” by the National Crime Agency warning they must do more to stop art work being used to launder illicit funds.
The law enforcement agency fears tens and potentially hundreds of millions of pounds are being laundered through art sales and is concerned that lax checks are making it too easy for criminals to exploit the market.

Dealers have already been told to respond by filing more “suspicious activity reports” to the agency highlighting sales where there are concerns about the buyer or seller and the source or destination of the money involved.

But Graeme Biggar, the director general of the NCA’s national economic crime centre, said there has been an inadequate response and that an official “amber alert” has been sent to dealers in the capital and elsewhere in Britain.

“Art is used for money laundering, we see that in our investigations and we would expect art dealers to be looking a bit harder. We haven’t seen much of an uptick,” he said.

“The art market in the UK is $12.7 billion (£9.11 billion), it’s the second biggest in the world and is a relatively high risk area for money laundering because it is a market used to operating with anonymity, where they use third parties, and where the source of the funds is often not clear.

“It’s also high value which is perfect for criminals and typically very small so you can move an enormous amount of value from one country to another quite easily and without suspicion.”

Mr Biggar said another advantage for criminals was that art has a “subjective value” which meant “you can deliberately buy high and sell low or vice versa, which is a good way of being able to launder cash.”

He added: “It is also a final product of the laundering sometimes because the criminals want to have a nice bit of artwork, in the same way they want a nice house and car.”

Mr Biggar said he was also “sure HM Revenue and Customs will be looking a bit harder too at art dealers” to counter the risk of sales being used to avoid inheritance or capital gains tax.

The “amber alert” sent by the National Crime Agency to art dealers says that the money laundering risk applies to paintings, sculptures, tapestries, photographs and other works.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
Cristiano Ronaldo Makes Surprise Stop at New Hong Kong Museum
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
High-Stakes Trump-Putin Summit on Ukraine Underway in Alaska
Iranian Protection Offers Chinese Vehicle Shipments a Cost Advantage over Japanese and Korean Makers
Saudi Arabia accelerates renewables to curb domestic oil use
Cristiano Ronaldo and Georgina Rodríguez announce engagement
Asia-Pacific dominates world’s busiest flight routes, with South Korea’s Jeju–Seoul corridor leading global rankings
Private Welsh island with 19th-century fort listed for sale at over £3 million
Sam Altman challenges Elon Musk with plans for Neuralink rival
Australia to Recognize the State of Palestine at UN Assembly
The Collapse of the Programmer Dream: AI Experts Now the Real High-Earners
Armenia and Azerbaijan to Sign US-Brokered Framework Agreement for Nakhchivan Corridor
British Labour Government Utilizes Counter-Terrorism Tools for Social Media Monitoring Against Legitimate Critics
WhatsApp Deletes 6.8 Million Scam Accounts Amid Rising Global Fraud
Nine people have been hospitalized and dozens of salmonella cases have been reported after an outbreak of infections linked to certain brands of pistachios and pistachio-containing products, according to the Public Health Agency of Canada
Texas Residents Face Water Restrictions While AI Data Centers Consume Millions of Gallons
Tariffs, AI, and the Shifting U.S. Macro Landscape: Navigating a New Economic Regime
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
China Tightens Mineral Controls, Curtailing Critical Inputs for Western Defence Contractors
OpenAI’s Bold Bet: Teaching AI to Think, Not Just Chat
BP’s Largest Oil and Gas Find in 25 Years Uncovered Offshore Brazil
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Germany’s Economic Breakdown and the Return of Militarization: From Industrial Collapse to a New Offensive Strategy
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Russia Formally Recognizes Taliban Government in Afghanistan
×