report

Art & Finance report – highlights in the art market

Art & Finance Report 2019 – 6th edition

Since launching the initiative in 2011, we have seen the global art market ebb and flow: from the aftermath of the financial crisis to the peak of the market in 2016. In parallel, we have also monitored how the wealth management sector is increasingly responding to competitive pressures in its own industry, and the role art and collectible wealth are playing in the transition to a more holistic wealth management model.

Since our last report in 2017, external factors such as increasing political and economic uncertainty, rapid technological progress, climate change, and social inequality have dominated the headlines on a daily basis. We live in a changing world, fraught with uncertainty. This is the context in which we should view the global art and finance industry—the crucial intersection between culture and wealth.

We hope that this report will help to raise awareness

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Avoid and report phishing emails

A phishing attack happens when someone tries to trick you into sharing personal information online.

What phishing is

Phishing is usually done through email, ads, or by sites that look similar to sites you already use. For example, someone who is phishing might send you an email that looks like it’s from your bank so that you’ll give them information about your bank account.

Phishing emails or sites might ask for:

  • Usernames and passwords, including password changes
  • Social Security numbers
  • Bank account numbers
  • PINs (Personal Identification Numbers)
  • Credit card numbers
  • Your mother’s maiden name
  • Your birthday

Important: Google or Gmail will never ask you to provide this type of information in an email.

Report phishing emails

When we identify that an email may be phishing or suspicious, we might show a warning or move the email to Spam. If an email wasn’t marked correctly, follow the steps below to mark

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HSBC money laundering report: Key findings

HSBC bank logo

Image caption

HSBC operates in more than 80 countries around the world

Failure after failure at HSBC led to the London-based bank being used as a conduit for “drug kingpins and rogue nations”, a 300-page report compiled for a US Senate committee and has found.

The July 2012 report and investigations by US authorities led to the UK-based bank being fined almost $2bn for failing to stop criminals using its banking systems to launder money.

Here we summarise some of the Senate Permanent Subcommittee on Investigation’s main findings against HSBC.

Mexican drug barons

Despite HSBC Mexico (HSMX) operating in a country “under siege from drug crime, violence and money laundering” it had inadequate money laundering controls.

Between 2007-8, for example, HBMX shipped $7bn to HSBC’s US operation, more than any other HSBC affiliate.

Mexican and US authorities expressed concern that drug traffickers were able to circumvent the anti-money laundering controls

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ESPN offered Peyton Manning more money than Tony Romo to join ‘Monday Night Football,’ per report

ESPN wants Peyton Manning — but the future Hall of Fame quarterback is playing hard to get.

Manning turned down an offer from ESPN to work as the “Monday Night Football” color commentator according to a report from Andrew Marchand of the New York Post:

“Sources say the overriding factor was whether Manning finally wanted to enter the broadcast booth and commit to the weekly schedule in the fall. The answer remains no. Manning has declined to be an ‘MNF’ analyst on multiple occasions, turning down basically every network since he retired from the NFL in 2016.”

MANNING NIGHT FOOTBALL: How ESPN can bring back its ‘MNF’ magic

While this isn’t the first time Manning has turned down ESPN — and other networks — it is the biggest offer he has declined, per Marchand.

Marchand reports that ESPN’s offer to Manning may have topped Tony Romo’s record 10-year, $140 million

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