Art sellers in the UK and most other EU jurisdictions are now to conduct AML (anti-money laundering) and KYC (know your client) checks on their buyers (from any country) for all sales over €10,000. This means to be compliant they need verification of source of funds/wealth (AML) and identity (KYC).
Why do I need to be verified to buy art?
Articles in this section
- What is Art Money Verified Buyer?
- Why do I need to be verified to buy art?
- How do I get verified?
- Does it cost anything for me to get verified?
- How long will the verification process take?
- Will I need to be verified each time I buy from a different art seller?
- Will my information remain confidential and secure?
- Where can I use my Art Money Verified Buyer Status?
- What is the price threshold at which the UK law applies?
- I thought Art Money provided interest-free finance?