04 Jan 2016
Swiss Authorities have publicly announced that they will be reviewing 133 reports of suspicious financial activity that could be linked to corruption within FIFA, specifically the organisation’s decision to allow Russia and Qatar to host the 2018 and 2022 World Cup finals.
The Swiss Office of the Attorney General initially announced that it would be investigating 103 cases in August 2015. However, this new development in the ongoing FIFA corruption scandal has now brought the number of reports up to 133.
Russia and Qatar are currently denying any misconduct.
US Federal prosecutors are conducting their own investigation into the organisation that will review any suspicious bank transactions. They have accused 27 officials of being involved in bribery schemes for marketing and broadcast rights with FIFA. As a result of the investigation, 12 individuals and 2 sports marketing companies have now been convicted.
The Financial Times reported that prosecutors are also prepared to crack down on banks for oversights relating to the organisation.
Swiss Justice Officials are complying with the investigation and have agreed to share banking information from five of the cases with US prosecutors. UBS and Credit Suisse are among the banks cooperating with the US by providing account information of those linked to FIFA.
Currently suspended FIFA President Sepp Blatter, along with FIFA deputy Jérôme Valcke and President of UEFA, Michel Platini, are denying the allegations made against them.
You can claim CPD minutes for reading this article, by signing up to our CPD WalletFREE CPD Wallet