Criminals are increasingly using soccer for money laundering and tax evasion, helped by the globalisation of the sport and financial needs of clubs, an anti-corruption body says.
According to The Guardian, the world's most popular sport is attracting criminals with its huge cross-border money transfers and often obscure accounting methods, a unit of the Organisation for Economic Cooperation and Development said in a report. "Football clubs are indeed seen by criminals as the perfect vehicles for money laundering," the OECD's Financial Action Task Force (FATF) said. Full story...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
