Swiss Bank Credit Suisse Is Now Getting Dragged Into The FIFA Scandal


Swiss Bank Credit Suisse Is Now Getting Dragged Into The FIFA Scandal

As the scandal for major world soccer organization FIFA continues to grow, Credit Suisse of Switzerland has been dragged into the discussions. The Swiss bank confirmed its involvement on Friday.

The bank has been said to have conducted business with FIFA in the past. Now authorities are suspecting that the bank may have played a major role in FIFA’s unlawful activities.

According to Credit Suisse, representatives from the bank have been questioned by authorities from the United States and Switzerland if they were involved in the corruption and money laundering scandal that allegedly took place at the world’s leading soccer organization.

The bank said in a statement contained within its third quarter financial report, “The U.S. and Swiss authorities are investigating whether multiple financial institutions, including Credit Suisse, permitted the processing of suspicious or otherwise improper transactions, or failed to observe anti-money laundering laws and regulations, with respect to the accounts of certain persons and entities associated with FIFA.”

Additionally, inquiries also affected people who were a part of the group of FIFA officials that were indicted by the United States last May.  

Credit Suisse has stated that it plans to cooperate with the investigation. The bank is the first financial institution to admit that it has been facing scrutiny in regards to the FIFA scandal.

According to the United States Department of Justice, money that was involved in the FIFA scandal also passed through other banks, such as JPMorgan Chase, Bank of America and Citibank,

FIFA is currently facing multiple investigations. The investigation regarding the organization’s alleged money laundering and corrupt behavior began earlier this year. Several officials from FIFA have already been charged with bribery, fraud and money laundering.

Additionally, the attorney general in Switzerland is looking into corruption that may have occurred by awarding Russia and Qatar the respective 2018 and 2022 FIFA World Cups.

FIFA has already suspended three top-ranking officials for 90 days, including president Sepp Blatter.

Read this next:

Must Read