At a conference held on Thursday, Riccardo Sansonetti, head of financial crime at the Swiss State Secretariat for International Finance, said he welcomed the effort.
“It shows the will of the private sector to set out good practice, indicated a certain maturity of the sector, and third it’s very useful as a way of managing the risks,” he said.
Simon Studer, who runs an art dealership at the Geneva Free Ports complex said he’s fed up with businesses like his being tarred with the same brush as those caught up in scandals.
“The minority is burning the reputation of the majority,” said Studer, who is located outside the customs storage zone. “I would like to have a more balanced image of the art market."
This article was provided by Bloomberg News.