# Prof. Nouriel Roubini calls for regulation in the art market

1 Faculty News January 22, 2015 ![Financial Times logo](/sites/default/files/styles/246w/public/assets/images/uat_025700.jpg?itok=LSPbU2V1)>

Excerpt from [Financial Times](http://blogs.ft.com/the-world/2015/01/art-worlds-shady-dealings-under-scrutiny-at-davos/) -- "'Whether we like it or not, art is used for tax avoidance and evasion,' said [Prof Roubini](http://www.stern.nyu.edu/faculty/bio/nouriel-roubini), himself an art collector. 'It can be used for money laundering. You can buy something for half a million, not show a passport, and ship it. Plenty of people are using it for laundering.'"

[Read more](http://blogs.ft.com/the-world/2015/01/art-worlds-shady-dealings-under-scrutiny-at-davos/)