The trade in art, antiquities and other culturual objects is a billion dollar industry. It is one where individual objects can attract high prices and where there is a culture of privacy and discretion regarding the identity of buyers and sellers. The market has attracted criminals, organised crime groups and terrorists who seek to launder proceeds of crime and fund their activities. The use of cash, third party intermediaries, shell companies and other complex corporate structures in relevant transactions also represents relevant illicit finance vulnerabilities. While certain jurisdictions and market participants proactively implement measures to mitigate these risks, many do not take effective action. This Financial Action Task Force (FATF) report is the first to focus on money laundering and terrorist financing linked to art, antiquities and other cultural objects. It highlights how many jurisdictions need to improve their awareness and understanding of the risks associated with these markets and provides advice on how to mitigate the vulnerabilities identified. The markets for art, antiquities and other cultural objects are diverse in size, business models and geographic reach. Most are relatively small and the vast majority of participants have no connection to illicit activity. Nonetheless, a number of cases over the past decades have demonstrated that criminals, including money launderers, can exploit these markets. Pieces of art or cultural objects can attract high prices, retain their value, be purchased in cash on behalf of someone else, and be discreetly transferred between people and businesses before being sold for ‘clean money’. The relative ease with which small objects of high value, such as antique coins, can be transported across borders also makes them attractive to launderers.