Tainted Treasures: Money Laundering Risks in Luxury Markets
April 2nd, 2017
Luxury goods sellers – from jewellers and real estate agents to yacht builders and diamond brokers – are doing little to check if their customers are using corrupt money to fund their high-end purchases.
This is the conclusion of a new report, Tainted Treasures: Money laundering risks in luxury markets, from the anti-corruption movement Transparency International, which found that little due diligence is done on luxury goods buyers and where there are laws, there is little enforcement.