Purchasing art is a common money laundering technique

Art theft is the third-largest source of criminal revenues worldwide.

Money laundering is a three-step process: placement, layering, and integration

"Placement" occurs when dirty money is introduced into the financial system. Then "layering" happens when the money is moved around to disguise where it actually came from. Finally, the money is placed in other assets or investments in a step called integration.

Lack of regulation makes cryptocurrency a hotbed for money laundering.

Stolen art is often ransomed rather than resold because it is too risky for collectors to purchase.

More than $2.6B has been laundered through US real estate in the past 20 years

All cash real estate transactions don't require extensive background and identity checks, creating a loophole for criminals who would otherwise be flagged for suspicious behavior to clean large amounts of money with one purchase. Real estate prices are easily manipulated and can be used to generate more income by renting the space, making it an attractive and common tool for money laundering.

Successful art thieves run into the problem of having a painting too famous to sell

This potentially explains why some robbers hold onto these pieces for years, even decades. Security experts say no reputable art dealers, or even black-market dealers, are willing to sell stolen works by famous artists like Van Gogh or Modigliani.

Meet a government agent who laundered millions of dollars for Pablo Escobar.

Some robbers have been able to steal works of art with surprising ease

A number of heists have taken place in just a few minutes, relying on a small team and minor weapons. Once pieces are stolen, some are sold as high-quality replicas, leaving art collectors unknowingly holding original masterpieces in their collections.

How art-backed loans work

Using your art collections—some of which are valued in the millions—to secure a loan is becoming more common among collectors. Here's a breakdown on how banks and private lenders are making best of the opportunity in liquidity.

Money 'mules' don't always know they are laundering money

Money mules are anyone who receives money in a laundering scheme and then sends it forward, either to another company or to a financial institution. While some money mules—often called smurfs—actually work with criminals laundering money, getting someone to receive and then send money has become a popular scam.

Learn about eight art heists that have gone terribly wrong

Half-baked plots, car troubles, and poor forgeries are some examples of blunders that led to failures in stealing works of art. For example, one heist by armed gunmen led to the theft of 20 van Gogh paintings. Before the robbers could declare victory, a flat tire on one of the getaway cars forced them to abandon the Dutch master's works and escape. They were later arrested for the crime.

There's a myth that Al Capone coined the term 'money laundering,' or the process of disguising the criminal origins of illegally obtained money so it can be used without detection.

Looting art is often a byproduct of war

During WWII, Hitler orchestrated the theft of many masterpieces to eventually create his own museum. While many of these were recovered, iconic works such as Raphael's "[Portrait of a Young Man](https://www.dailyartmagazine.com/the-story-of-the-lost-raphaels-portrait-of-a-young-man/)" and Vincent van Gogh's "Painter on His Way to Work" remain missing or were destroyed by the Nazis.

Breaking down the numbers on art theft trends

Cultural property theft has been on the rise in recent years, and the recovery rate of such artifacts is estimated to be below 10%. Explore dozens of other statistics here.

Anti-money laundering laws forcing banks to report data have become important foreign policy tools

Since the Bank Secrecy Act of 1970, which required banks to report transactions exceeding $10K and keep records on customers, anti-money laundering laws have become an important proxy for American foreign policy initiatives. Increased regulation via financial institutions helps curb drug and human trafficking, as well as destabilize the financial infrastructure for terrorist organizations.

Priceless paintings were quickly taken during a 2008 raid of a Zurich museum

Three men walked into Emil Bührle Foundation during open hours. One of the men pulled out a loaded gun and forced the museum staff to the floor, while the others stole four paintings close to the door. The stolen paintings included a Degas, a Monet, a Van Gogh, and a Cezanne, totaling a whopping $160M in stolen art.

Two men dressed as cops stole artwork from a Boston museum valued at over $500M at the time

On March 18, 1990, the thieves entered Isabella Stewart Gardner Museum pretending to be police officers responding to a disturbance. After overpowering and handcuffing the guards on duty, they stole 13 precious items, including works by Rembrandt and Manet. The theft is the largest art heist in US history. The pieces are still missing, and the museum is offering a $10M reward to anyone who provides valuable information about their location.

A former financial crime investigator says Hollywood has done a pretty good job depicting money laundering

A former financial crime investigator says "Narcos" and "Ozark" have pretty realistic scenes, but other well-known financial crime depictions like "The Wolf of Wall Street" are off base. Some of the main inconsistencies include overly dramatic gunfights and unrealistic cash amounts.

Banksy once sold his highly valued artwork on the street for $60

The notorious (and anonymous) street artist has a history of sending up the art world's pretensions. In 2013, he sold his artwork, valued at approximately $20K per piece, for $60 on a New York street. Some unassuming, but apparently aesthetically discerning, patrons took home world-renowned work that day at a steep discount.

Graffiti exists in a legal gray area

"Street art" has become a major seller in the art world, yet many states still consider graffiti to be illegal vandalism. Copyright law complicates the situation further, offering protections for "original works of authorship fixed in a tangible medium of expression," even if they've been created illegally.

Organized crime, including money laundering, drains $1.96T from the global economy annually

Overall, financial crime drains $3T from the global economy, with organized crime making up nearly $2T of that total. Drug trafficking is the second-largest drain on the global economy.

In 1911, a solo thief stole the 'Mona Lisa' from the Louvre, propelling the painting to a new level of celebrity.

Financial institutions use 'Know Your Client' standards to prevent money laundering

KYC standards include verifying customers' identities and conducting regular account checks for high-risk clients to avoid money laundering schemes. These standards obligate banks to report suspicious customers and activity.

The theory behind public art

Proponents of public art, including graffiti, argue that its free access and visibility breaks down the elitism and financial barriers of galleries and museums, allowing people to interact or ignore the work as they see fit.

A Chinese-Mexican alliance marked one of history's largest nonviolent money laundering schemes

In 2019, Chinese-American gangster Xizhi Li was arrested for an expansive money laundering scheme spanning four continents. Li reportedly laundered hundreds of millions of dollars for cartel members, wealthy Chinese Americans, and other foreign countries.

Why can't we see Mona Lisa's eyebrows?

The world's most famous painting is missing something. And it took centuries for experts to figure out what. In this episode, August Moon investigates what happened to the Mona Lisa's eyebrows—analyzing infrared scans, tracking 500 years of restoration, and examining a forgotten copy from Leonardo's studio. But he uncovers something bigger: what we lost after the 1911 theft that has nothing to do with the painting leaving the Louvre.

Banksy turned graffiti into high art

The anonymous artist is renowned for his puckish, often stenciled street art. He's also known for the eye-popping sales those works command once they're up for auction. This podcast dives into the history of the singular artist, exploring how a British graffiti artist became a cultural icon.

Meet the Dutch art detective who's recovered a Van Gogh, Dali, and Picasso

Known by some as the "Indiana Jones of the art world," Arthur Brand has recovered more than 150 stolen paintings and artifacts. He works independently, existing as a helpful bridge between the police and the people who might know where the stolen art is hiding. He is motivated by the thrill of the chase more than any financial payoff.

As of 2025, an estimated $3.2B in annual revenue flows through dark web platforms

The untraceable cryptocurrency Monero is used in about 60% of transactions across more than 37 active marketplaces that sell copyrighted materials, private information, and phishing kits—tools that help bad actors more easily create fake sites to steal users' data—for financial fraud.

Visualizing the history of money

Money is any medium of exchange used in payments for goods or services and can take many forms. From cattle and shells in ancient times to paper and blockchain today, money has taken many shapes and sizes. This infographic illustrates some of the major forms of exchange world cultures have used over the last 5,000 years.

Today, in the US, people can face years in prison for counterfeiting money

There are both federal and state laws that punish people who use or create counterfeit money. The crime can not only trigger hefty fines, but could also lead to decades behind bars.

Some argue that appropriation in pop art is simply plagiarism

Some of pop art’s most recognizable works rely on the art of appropriation, lifting advertisements, product images, and—in Roy Lichtenstein’s case—comic book panels drawn by other artists. Artnet dives into a 2023 documentary exploring the complicated legacy of appropriation and high versus low art through interviews with comic artists whose work Lichtenstein copied into million-dollar masterpieces.

In 2025, thieves stole roughly $100M of jewels from the Louvre

The robbery of the world's most visited museum took less than ten minutes and resulted in worldwide shock. The thieves used a ladder to break into the building and steal eight pieces of French crown jewels, and then escaped on motorbikes.

Bellagio hotel sells Picasso artwork

Eleven Picasso paintings and other works that helped turn Las Vegas into an unlikely destination for art were sold at auction for more than $100 million.

AI could be increasing the opportunities for financial fraud

Systems that can reproduce near perfect counterfeits of legitimate financial documents are increasingly prevalent and sophisticated. The international Association of Certified Fraud Examiners estimate organizations lose about 5% of revenue to fraud each year.

Is repatriation the answer to looted museum objects?

For many, the return of stolen art and artifacts to their places of origin is a simple solution. But, as Patricia Marroquin Norby, the Met’s curator of Native American Art, writes in this article, there are sometimes other approaches and factors to consider. Speaking specifically about the collection she oversees, Norby discusses other solutions like co-stewardship, in which collaborative relationships are built with the tribes from whom the objects were taken.

Breaking down the details on how the art heist at the Louvre unfolded

On October 19, 2025, several people dressed as construction workers climbed a construction lift and broke into the Louvre, stealing roughly $100M of crown jewels. This podcast breaks down the specifics of the heist.

Appropriation is a common feature of pop art

Many of pop art’s most famous works appropriate objects or (more controversially) artwork and photography with new techniques and contexts, a practice that extends beyond pop into movements like readymade and Dada. Some pop artists, like Elaine Sturtevant, even made copies in partnership with the help of their targets.

Jeff Bezos has an art collection worth hundreds of millions

The collection includes an oil painting by Pablo Picasso that was once part of Picasso's personal collection. Bezos purchased the painting in a 2023 Sotheby's auction.

Alternative investments can include everything from cryptocurrency to fine art

The financial assets typically fall outside the scope of traditional investments like stocks and bonds, and they’re often intended to diversify investor portfolios.

See a breakdown of the bestselling visual art media—from paintings, which account for about 59% of all fine art dealer sales, to sculptures, which account for roughly 15%.

Picasso was on trial for the theft of the 'Mona Lisa'

On August 22, 1911, the world was stunned by the theft of the "Mona Lisa" from the Louvre in Paris. As an international investigation searched for the culprit, a young Picasso was suspected to be part of a group of its thieves. While innocent in the disappearance of the Mona Lisa, he found himself on trial with reasonable suspicion: He was in possession of two Iberian statues that were the property of the same museum.

Picasso was initially ignored by the US art market

Picasso's now-iconic style was radical for its time and, as such, was something the US art market initially ignored. Hugh Eakin, author of "Picasso's War: How Modern Art Came to America," tells the story of the social norms, tax laws, and influential figures like lawyer John Quinn that set the course for modern art in America in the early 1900s.

Fraud and identity theft are among the most common dark web-related crimes.

Individuals have been convicted of ordering assassinations from the dark web

Researchers have uncovered online storefronts allegedly run by members of various mafia or hitmen that offer to harm or murder individuals in exchange for monetary payment. However, no known murder has been attributed to any of them, and cybercrime task forces believe them to be scams (warning—sensitive content).

What is the function of money?

Nearly everyone uses some form of money to facilitate day-to-day activities, but what is it, anyways? Economists define money as anything that can be accepted as final payment for goods and services. Shells, beads, corn, and a wide range of objects have acted as money throughout history—explore the common but deceptively abstract concept of money in this eight-minute podcast from the Federal Reserve.

The Louvre in Paris has its own particle accelerator for art analysis

The Accélérateur Grand Louvre d'analyse élémentaire serves as a noninvasive tool for identifying and quantifying trace elements present in artworks by analyzing how particles backscatter off targets. This information can help detect forgeries and determine a piece's provenance. (Some readers may experience a paywall.)

Picasso is the bestselling painter of all time

Picasso’s artistic legacy remains lucrative 50 years after his death. His output was immense, and several individual works have sold at auction for over $100M. Those sales were not only jaw-dropping but also historic, leading to Picasso’s place as the top-grossing artist of all time.

5 works of art that were destroyed and repaired

Art preservation is a delicate skill; art reconstruction is even more challenging, especially when the damaged works are centuries old. This Artnet guide details five of the most famous cases of dismembered works (from Manet, Cézanne, and more) that were repaired by specialists, allowing audiences to see the pieces in the way they were intended.

Cryptocurrency acts as a store of value

Traditional money, dating back to its first known uses in ancient Babylonia, has many uses—it reduces friction in transactions by providing a common denominator of value (unit of account), acts as a single item accepted by many vendors (medium of exchange), and holds wealth as a store of value.