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Swiss Banks Reported Potential Money Laundering

Swiss Banks Reported Potential Money Laundering

There are 53 cases of potential money laundering being probed in the investigation by Swiss prosecutors in to the 2018 and 2022 Fifa World Cup bids after the incidents were reported by Swiss banks. If the alleged bribery claims are proven, Russia who have secured the 2012 tournament and Qatar for 2022, risk losing these awards, although both countries have refuted accusations of any misconduct.

The claims arose after a Zurich hotel, housing several Fifa officials was stormed in May and subsequently charges of ‘rampant, systemic and deep-rooted’ corruption have been brought following an FBI investigation that has been ongoing for three years. With regards to the money laundering claims, it was expressed by Attorney General, Mr Lauber that Swiss banks ‘fulfil[ed] their duties [in] fil[ing] suspicious activity reports. In addition to 104 banking relations already know to the authorities, banks announced 53 suspicious bankig relations via the anti-money-laundering framework of Switzerland.’

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