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New York, 12 June 2013

The “art” of money laundering: an expert’s vantage point

New book offers perspectives on, and recommendations for, combating money laundering through art

Art is said to be subjective, and in the eye of the beholder. But what is unquestionably true is that criminals have found effective means of using art to engage in illegal activities, specifically money laundering. In the new book, Money Laundering Through Art: A Criminal Justice Perspective (Springer, 2013), author Fausto Martin De Sanctis offers a bird’s-eye view of the novel ways in which criminals engage in these activities, and how criminal justice practitioners might accurately detect, investigate and prosecute these crimes.
Many financial crimes and illegal activities are effectively battled through the active involvement of governments and other regulators. But the art industry has traditionally been shrouded in secrecy, with avid opportunities for criminals to take advantage of a lack of transparency. Furthermore, investigators, prosecutors, judges and regulatory agencies are ill-equipped to battle clandestine illegal activities that leverage the artistic arena since international laws and treaties involving the art world have many loopholes that can potentially lead to the laundering of large sums of money.
Money Laundering Through Art: A Criminal Justice Perspective explains the background necessary to understand the art world as a venue for illegal activities. Discussed in the context of other financial crimes, the book can serve as a guide for academics, prosecutors, judges, law enforcement officials, art sector professionals and others involved in efforts to curb money laundering and the financing of terrorism. The book provides an overview of methods of money laundering through art, as well as specific case studies, revealing why new techniques used by criminals have been largely neglected by law enforcement in many countries. De Sanctis concludes with a number of concrete recommendations to improve the fight against illegal money laundering in general and via artwork.
Fausto Martin De Sanctis holds a Doctorate in Criminal Law from the University of São Paulo’s School of Law (USP) and an advanced degree in Civil Procedure from the Federal University of Brasilia (UnB) in Brazil. He was a Public Defender in São Paulo from 1989 to 1990, and a State Court Judge, also in São Paulo, from 1990 to 1991, until being appointed to the Federal Courts. From April 2 to September 28, 2012, Judge De Sanctis was a fellow at the Federal Judicial Center in Washington, DC. He is currently a Federal Appellate Judge in Brazil’s Federal Court for Region 3, with jurisdiction over the states of São Paulo and Mato Grosso do Sul. Judge De Sanctis was selected to handle a specialized federal court created in Brazil to exclusively hear complex cases involving financial crimes and money laundering offenses. He is a world renowned expert on this topic and has been invited to participate in programs and conferences both in Brazil as well as internationally.
De Sanctis, F.M.
Money Laundering Through Art: A Criminal Justice Perspective
2013, X, 218 p. 7 illus. in color
Hardcover €53,49 | £44.99 | $69.99
ISBN 978-3-319-00172-2
Review copies are available immediately for journalists and book reviewers, both online and in print.

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