Gain transparency high-value art deals and intermediary risks
Simplify the customer verification with automated CDD/KYC processes. Instantly verify the identity of buyers and sellers, run PEP and sanction checks, and assess risk levels in real-time.
The biggest AML challenges in the art world
Lack of transparency and benficiaries
Identifying beneficial owners can be difficult due to layers of intermediaries, shell companies, and trusts.
Global reach and jusrisdictional complexity
Art transactions often span multiple jurisdictions, each with its own AML regulations.
Complex CDD requirements
Art market businesses must conduct detailed customer due diligence on both buyers and sellers.
High risk transactions and buyers
High-value transactions are prime targets for money laundering, and intermediaries can obscure true ownership.
Client privacy and discretion
Clients often value privacy and discretion making collecting information for CDD challenging.
Monitoring suspicious activity
Art can be subjective in value, and unusual activity may not always raise red flags.
annual global art market valuation
of global art market sales come from US
transactions flagged – AML scrutiny
of sales involve high risk areas
of auction houses in EU adopt AML
Streamline customer due diligence, monitoring, and reporting for high-value art transactions
By integrating advanced technology and automation, ID-Pal empowers art market participants to ensure compliance with all regulatory requirements while safeguarding your reputation.
Effortless compliance with global AML regulations
Automate CDD and sanctions screening to meet AML regulations with ease, even for high-value, anonymous transactions, ensuring compliance across complex art market deals.
Real-time monitoring of client risk profiles
Continuously monitor client risk profiles and detect suspicious activity in real-time, ensuring you can swiftly respond to potential money laundering threats and uphold ongoing compliance.
Protect your reputation in the international art market
Stay ahead of evolving regulations and avoid costly fines, while preserving the privacy that your art clients expect, ensuring compliance without compromising trust.
Fraudsters are using stolen data and their real face to pass biometrics and liveness checks, knowing the police lack resources to investigate the increasing number of deepfake attacks. The only defence an organisation has is to detect the document itself as a deepfake.
Peter Violaris
Global DPO and Head of Legal EMEA at IDVerse
EFFORTLESS COMPLIANCE
Automate customer due diligence for buyers and sellers
Instantly verify the identity of buyers and sellers, run PEP (Politically Exposed Persons) and sanction checks, and assess risk levels in real-time without slowing down transactions.
GLOBAL ASSURANCE
Achieve complete KYC and KYB for global compliance
Stay compliant with sanctions and block risky actors from your art deals by screening against global sanctions lists to ensure you avoid restricted individuals or entities.
SEAMLESS VERIFICATION
Accelerate onboarding across borders with biometric verification
Streamline onboarding with secure biometric ID verification and document validation, ensuring seamless client management across multiple jurisdictions.
Impact in numbers: elevating compliance in the art world
We bring together global market-leading data sources and verification technologies into a single, simple interface, accessible anywhere, any time.
< 4% Abandonment rate
250+ Jurisdictions
500m+ Entities available
16,000+ Documents supported
1.5m Daily news articles covered
< 2% False positive rate
Know your customer identification
Verify clients in seconds using biometric facial recognition and UBO data. Eliminate manual tasks across data sources with automated KYC processes aiding due diligence.
Effortless case management in one platform
A central compliance tool that delivers dynamic client records, provides MLROs and risk teams with full oversight, and ensures smoother internal and external audits.
Automated screening with rich data
Take advantage of extensive data sources to seamlessly automate the screening process for PEPs, sanctions, and adverse media, ensuring thorough due diligence.
Helping CloudPay slash validation times from days to minutes, enabling rapid service expansion
CloudPay chose ID-Pal to deliver a quicker, more efficient onboarding process to support rapid growth and lofty ambitions for the future while enhancing compliance and security and improving the overall customer experience.
Book a walkthrough of our KYB solution for art transactions
Have questions about improving identity verification, KYC and KYB compliance in the art world? Speak with our team to see how ID-Pal can prevent fraud losses and help you verify buyers faster.
Faster and fully compliant onboarding
Verify buyers and block fraud at source
Stronger fraud prevention
Frequently asked questions
What KYC and AML checks are required for high-value art transactions?
Art market participants (AMPs) are subject to AML regulations such as the UK Money Laundering Regulations (MLRs) when transactions meet certain thresholds.
Required checks typically include identity verification (ID&V), beneficial ownership checks, sanctions and PEP screening, and ongoing checks and monitoring for suspicious activity.
What is the best way to conduct KYB checks on corporate art buyers or intermediaries?
A compliance platform should support fast, remote biometric identity verification, document authentication across global ID types, and low-friction onboarding flows. This allows galleries to meet compliance obligations while maintaining a premium, discreet client experience expected in high-value art transactions.
KYB checks should include company registration verification, beneficial ownership identification (UBOs), director checks, and sanctions/PEP screening. For art houses, this is critical when dealing with offshore entities, advisors, or agents acting on behalf of buyers.
ID-Pal enables fast and comprehensive KYC/B checks, identity verification, and screening and monitoring within a single platform without creating friction.
What data providers do you use?
ID-Pal integrates with lots of renowned global data providers, corporate registries and premium data sources, providing unrivalled access to the data your business needs.
With 400+ data sources covered, you can be sure ID-Pal can build an accurate picture – whether screening businesses or individuals.
What do you do with our data?
At ID-Pal, we take security very seriously and we adhere to the highest, rigorous standards for data, privacy and security compliance. We have zero access to customer data at every stage, and data is fully encrypted whether in transit or at rest.
The data you send us is only used to verify your client’s identities and businesses. We never use it for any other purpose. We send it to third parties to complete the checks, and we can share our list of sub-processors with you so that you have full transparency of how your data is used.
How do you test your services?
Our products are tested continuously throughout our development process by a team of internal QA engineers. In addition to the application testing we regularly scan for vulnerabilities using third party services and undertake annual detailed penetration testing. We continually monitor new vulnerabilities and proactively work to ensure that we are protected.
ID-Pal is proud to be ISO 27001 and 9001 certified, internationally recognised standards that demonstrate the company’s commitment to the highest levels of information security and quality management.
How fast can I be up and running?
ID-Pal can be customised and deployed in as little as a day.
Our turnkey solution is ready to use out-of-the-box and can be customised to your needs at the click of a button – no complex integrations or code required. Integrate using our API / SDK for seamless implementation without disruption to your operations and without complicated setup and troubleshooting.
Find out how we can help your business grow
