Insights: Week of September 4, 2023


In a report last week about the use of the art market in money laundering and terrorist financing, the New York Times flagged Lebanese art collector and financier for designated foreign terrorist organization Hizballah, Nazem Ahmad, as an example of how illicit actors exploit the art world to obscure financial crimes. Ahmad in 2019 was designated for providing material support to Hizballah, and the State Department is offering up to $10 million for information about Ahmad or his financial network.

This week’s Insights highlight the criminal use of the art world to move and launder assets, but there’s so much more! Sanctions, crypto, fraud, and other financial crimes are all in our article this week.

Click below for our take on the news.

FiveBy News and Insights

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