Manchester, United Kingdom–(Vehement Media – April 29, 2022) – The Due Diligence platform for the Art Market, Arcarta surpasses 300 Art Market clients (as of April 2022) and announces plans to expand further into EU and US markets as it finds Art businesses are not prepared to meet the new Anti-Money Laundering requirements.

As Anti Money Laundering regulations have affected the international Art Market, many businesses are getting ahead of regulators by ensuring they have the correct systems and processes in place.

Where previous lockdown restrictions and travel limitations throughout 2020-21 impacted and slowed an art business’ ability to participate in an international art fair calendar, the combination of regulations and enforcement of sanctions orders is a complex and challenging landscape to navigate as a sense of normalcy returns.

Market-specific with a focus on experience for both galleries and collectors, the art market due diligence platform Arcarta has gained significant traction owing to its unique processes and tools that help reduce the time invested and risk for non-compliance for the gallery. Arcarta has also developed a collector-focused experience that makes the process of providing information to a gallery simple, fast and secure. Since the new AML regulations were introduced in the UK in January 2020, the platform gained a foothold in the market by working with over 100 art galleries in the first year of regulated trading in the UK.

Since then, the platform has continued to see swift adoption by businesses in the UK and more recently in the Europe and US markets, surpassing a total of 300 art market clients as of April 2022.

Art businesses with multiple premises and an international footprint are either regulated owing to their location or ‘by proxy’ as a result of working with other members of the art market who are regulated, creating additional confusion, uncertainty and complexity.

Established in 1960 and with galleries in New York, London, Hong Kong, Palo Alto, Geneva, Seoul, East Hampton and Palm Beach, PACE is the most recent gallery to join the growing community of Art Market clients using Arcarta to conduct due diligence and succeed with regulation.

About Arcarta: Arcarta is a Due Diligence platform for the art market and is used by 300 Art businesses internationally. Established in 2019 with a background in anti-fraud card payments and reducing invoice fraud, the Arcarta platform has grown to become one of the most widely adopted, global due diligence services for the Art Market.

Arcarta owes its growth to working with the Art Market exclusively. This market-specific focus – insight and feedback from the art businesses navigating such laws – has helped shape the design and build of a service allowing any business trading in works of art to confidently respond to regulatory challenges and regulators throughout the UK, EU and US.

To learn more about Arcarta, please visit https://www.arcarta.com/
Instagram: @arcarta
Key Contacts: Tom Noon Co-Founder & CEO, Arcarta
support@arcarta.com