Frequently Asked Questions

Yes. Many art galleries qualify as Art Market Participants and are legally required to comply with AML regulations, particularly when conducting transactions of €10,000 or more or operating in regulated jurisdictions.

In many jurisdictions, AML obligations apply when a single transaction or linked transactions reach €10,000 or more. This includes sales, purchases, and consignments.

Art galleries are required to: • Verify customer identity • Screen buyers and sellers against sanctions and PEP lists • Perform adverse media checks • Apply the appropriate level of due diligence • Store AML and KYC records securely for audit purposes

Yes. Private collectors may be subject to AML checks when they buy, sell, or consign artworks above regulatory thresholds or present higher-risk indicators such as political exposure or international residency.

Typically: • Government-issued photo ID (passport or national ID) • Proof of address • Additional documentation for higher-risk transactions or Enhanced Due Diligence

Yes. AML regulations require ongoing monitoring. Existing clients may need to be re-screened if: • Their risk profile changes • They appear in sanctions or adverse media • Ownership or political exposure changes

Yes. Consignments are considered part of regulated art transactions in many jurisdictions, and galleries are required to screen both consignors and buyers.

Failure to comply can result in: • Regulatory fines • Enforcement actions • Reputational damage • Loss of ability to trade in regulated markets

Most regulations require AML and KYC records to be stored securely for 5 years or more, depending on jurisdiction.

Yes. AML checks can be completed quickly and professionally when automated. Tools like KYCProtect allow galleries to complete required checks in minutes while maintaining client trust.