Rare radiative charm decays in the standard model and beyond

Motivated by the recent measurement of $D^0\to\rho^0\gamma$ improved standard model (SM) predictions for branching ratios and CP asymmetries of radiative charm decay are given. Weak annihilation induced decays are probes of non-perturbative QCD approaches. Rare decays probe the SM and physics beyond the SM, e.g. leptoquark and supersymmetric models. Opportunities with $\Lambda_c\to p\gamma$ for future polarization measurements are presented.