What sanctions will apply to high-value dealers from May 2025?

High-value dealers will be required to report information related to transactions as part of compliance with anti-money laundering and counter-terrorist financing regulations. This requirement highlights the importance of transparency and accountability in transactions involving high-value assets, such as art, collectibles, and other expensive goods. By mandating them to report these transactions, authorities aim to mitigate the risks of money laundering and ensure that all dealings are properly documented and scrutinized.

This regulatory requirement is aimed at fostering a secure environment in which transactions are monitored for suspicious activities, thus contributing to broader financial integrity efforts within the art market and similar sectors. The focus on transaction reporting is an integral aspect of the regulatory framework that high-value dealers must adhere to as they operate in increasingly scrutinized markets.