Global body slams banks over Fifa transactions

FATF says they appear to be so lax that many allegedly corruption-related transfers passed through the international financial system undetected


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.

With the US investigation continuing to widen, and a separate Swiss probe gearing up into whether there was corruption involved in Fifa's awarding of the hosting rights...


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