Art World Popular with Money Launderers

Monday, 13 May 2013 | by Pat's Picks

According to the New York Times, the art market has become a favorite of money launderers, mainly because it’s already a “famously opaque” market.  In other words: who can say whether a painting is worth $100 million or just $8 million? Also helpful: “having a transaction where the seller is listed as ‘private collection’ and the buyer is listed as ‘private collection.”

SOURCE: New York Times