Global body slams banks over Fifa transactions

London

A GLOBAL group of government anti-money laundering agencies said that financial institutions have not done enough to police suspicious financial activity by officials at soccer's global governing body Fifa, and cautioned banks to step up scrutiny.

The warning from the Paris-based Financial Action Task Force (FATF) came in the wake of last month's indictment by the US of nine current and former Fifa officials and five business executives on a series of corruption charges, including bribery, money laundering and wire fraud.