Purchasing art is a common money laundering technique

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

The market value of art is entirely subjective, allowing paintings to be worth millions while also being lightweight and easy to smuggle. However, most successful heists are the result of luck and don't include a plan for selling. The smartest option for robbers is typically the less famous painting, as it won't be as difficult to sell as the Mona Lisa.

Art theft is the third-largest source of criminal revenues worldwide, thanks in part to the subjective nature of valuing a work of art.

Lack of regulation makes cryptocurrency a hotbed for money laundering

Cryptocurrency is largely anonymous and widely unregulated worldwide. As a result, crypto-to-cash schemes have become a highly prevalent money laundering tactic that allows criminals to commit financial crimes with crypto accounts and then "clean" the money by selling crypto for cash.

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.

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.

Some estimate that roughly 70% of artifacts in museums are stolen

New York City assistant district attorney Matthew Bogdano targets the illicit art world. Bogdano claims that traders and traffickers of stolen art have often been able to get away with their crimes due to their connections with members of the elite. His efforts have led to the recovery of around 4,500 antiquities valued at around $300M.

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.

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.

The bestselling visual art mediums, visualized

Fine art is a particularly appealing alternative investment for many—but it's also a pretty broad term. This data visualization shows which fine art mediums sold the best in 2024. For instance, paintings accounted for about 59% of all fine art dealer sales that year, whereas sculptures accounted for roughly 15%. See the full picture here.

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.

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.

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.

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.

The Mona Lisa's celebrity status and repeated restorations have obscured what made the painting so revolutionary for its time

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.)

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

Credit card information, driver's license or passport scans, and login credentials are among the data bought and sold on dark web marketplaces, which can appear there without users' knowledge through data breaches. Medical records can fetch higher sums of money for their potential use in blackmail and insurance fraud.

A look at the principles guiding the Met's collection practices

While there are serious questions about the provenance of pieces that the Met has acquired in the past, the museum says its collecting practices today are all guided by three principles: research, transparency, and collaboration. A particularly interesting facet of their approach to research is looking into how pieces might have changed hands during the Nazi occupation of Europe and to whom (and where) they truly belong.

Watch the craziest ways cartels traffic drugs

The war on drugs has forced cartels to be increasingly creative when it comes to smuggling drugs. As police develop methods to catch smugglers, drug traffickers come up with new ways to get their products from producer to seller to buyer. This cycle...

The complicated use of rap lyrics as legal evidence

Rap artists are known for their vivid imagery, which can sometimes include gruesome acts of violence. That style has led to legal trouble for some artists (including popular acts like Young Thug) when songs are admitted as evidence in court cases. This legal analysis breaks down a history of the trend and explains why people are trying to stop it.

The Australian $5 bill has an image of a bird that glows when exposed to UV light

That’s just one of the many anti-counterfeiting security measures that the Australian government implements on its currency. Popular banknotes from around the world all include their own unique security features—this infographic outlines a few unique ones.

Salvador Dalí apparently conned Yoko Ono

Dalí often drew on the back of restaurant checks as a form of payment to avoid spending actual cash. He even ripped off his friend, Yoko Ono. Ono reportedly asked for a strand of his mustache. Dalí feared occult activity and sent a blade of grass, receiving $10,000 for it.

Gustav Klimt featured a lot of gold leaf in his art

Austrian artist Gustav Klimt's most iconic image, "The Kiss," can be seen today printed on tapestries, t-shirts, mugs, and more. The painting comes from a decade in his career where gold held a prominent place. Klimt's family business of goldsmithing, in tandem with inspiration from Byzantine churches, coalesced in his obsession with gold.

Some of LVMH's acquisitions were due to Bernard Arnault's search for undervalued companies

The LVMH CEO didn't mind acquiring companies that were outside the scope of what he had acquired previously—which is part of why LVMH owns such a wide variety of brands, from hotel chains to perfume companies.

NFTs can be minted using an online marketplace or directly on the blockchain

Minting, or creating, an NFT is how NFTs are added to the blockchain. The process can be simplified by using a popular marketplace.

The IRS may look at your social media if you're being audited

While some people cheat on their taxes, others evade paying them altogether. This article details methods the Internal Revenue Service uses to catch these people in the act, such as scanning social media, computer data analysis, and whistleblowers.

The US dollar is the most widely circulated currency in the world, and is involved in nearly 90% of global transactions

In 2019, a laptop loaded with six of the worst malware in history and described as 'an exhibit of historical weaponry' sold for $1.3M.

Frank Lloyd Wright's houses are historically hard to sell because they're old, subject to local landmark commissions, and often unfashionable

Graffiti dates back to at least ancient Pompeii, where citizens scrawled messages to one another on public walls

Georgia O'Keeffe's flower paintings are often assumed to be sexual, though the artist claimed she was simply interested in highlighting the beauty of flowers that most people neglect

Hedge funds, the private investment firms that trade a wide swath of financial assets, make money by imposing steep fees on investors and from the fund's investment performance.

Some coin denominations have ridges etched on their sides, partly to prevent counterfeiting, in a practice called 'reeding.'

Gerrymandering works through two techniques: cracking opposing voters across districts to dilute their power, and packing them into a few to waste their votes in lopsided majorities.

When a Paris department store hesitated to sell Estée Lauder's perfume, she 'accidentally' broke a bottle, causing the smell to spread throughout the store and shoppers to start asking to buy the scent.

See 33 images that became central to huge scandals, including a young Charles and Camilla, Michael Jackson's baby on a hotel balcony, and Hugh Grant's mugshot.

Explore fun facts from the USPS, including unique post office buildings, a stamp that traveled past Pluto, and more.

Tattoos remain visible on your skin thanks to immune cells called macrophages

Objects can be 3D printed with light by projecting 2D computerized tomography (CT) scans onto rotating cylinders of resin, which solidify upon exposure.

To reduce wrinkles in clothing, research recommends gentle wash cycles with more water and tumble drying with smaller loads and longer times.

Netflix profits when you're not watching, and its movies are designed that way—read a detail-rich critical essay exposing lesser-known Netflix takes

Poison ivy is in the same family as mangoes, cashews, and pistachios—and they all produce oily urushiol in their raw, unprocessed state—but they are typically prepared in ways to avoid causing human discomfort.

Abraham Lincoln was almost assassinated weeks before his inauguration as he traveled from Illinois to DC through Baltimore in 1861; it took two independent claims for Lincoln to be convinced the threat was real

This site reaches millions of visitors who are tired of AI chatbots and seeking human connection. Pretend to be an AI chatbot and ask questions, provide answers, and draw for people in real time.

See how fireworks are made and learn how metals like magnesium and copper are responsible for different colors.

Louisiana's 'Cancer Alley' is infamous for having some of the highest industrial pollution, toxic air emissions, and cancer risks in the US.

Double world record holder Hunter Ewen helped conquer his fear of balloons, called globophobia, by training to win Guinness World Record titles for balloon inflation.

While El Niño moves warm Pacific Ocean waters east along the equator, La Niña moves them west, shifting where rainfall will become more common for months.

Telehealth demand for GLP-1s for weight loss is booming as consumers seek easier access.