“Transactions in the art world are often carried out anonymously … and this cult of secrecy can be taken advantage of by criminals,” said Radcliffe.  “The art trade is the least regulated and least transparent activity in the commercial world, and the portability of the times and their international market make them very attractive for moving value, unobserved.”

“Art is one of the biggest unregulated markets in the U. S.  The business of art tends to be very closed and secretive.  It is still business done on a handshake.  Financial transactions are quite difficult to track, because you don’t have a paper trail.  How art is bought, sold, and moved is a challenge in itself to understand.  When a piece of art is bought or sold, there is the movement of the physical object from one location to another.  There is also the transfer of money from one bank account to another.  There is nothing to link those two events.”

“Another problem built into a business-on-a-handshake model is the issue of provenance.  The first thing we tell a new agent to do is to find out whether or not the work of art that has been stolen is, in fact, real.  Where does it come from? Where are its records? We don’t know until we do a background investigation on the piece of art.”  She continued, “Looking at the authenticity of a piece is always detective work.  Unlike most other material items manufactured today, art does not have serial numbers.  Lack of a serial number is one element that really distinguishes art from other types of property theft.  The only parallel is jewellery and gems – difficult to trace because they don’t have a serial number either, and so they are particularly valuable to thieves,” she said. 

“The middlemen and the dealers don’t want other people to know their sources.  This can stem from a legitimate business concern, because if other dealers find out who their sources are, they could use those same sources.”