Barclays and HSBC swept into football corruption scandal

29th May 2015


HSBC and Barclays have been dragged into the Fifa football scandal accused of handling suspect transactions.


The high street banks, along with Standard Chartered, have been named in legal papers filed in the US as part of an inquiry into corruption at football’s world governing body Fifa.


Office from the City of London are now working with the FBI after a link to British banks and London meetings were uncovered, including a meeting where bribes were agreed.


The US papers also allege that bank accounts held at HSBC and Barclays were used to transfer funds, with one payment of £320,000 made to ‘an account of a luxury yacht manufacturer’ in the UK. Another payment of £130,000 was routed through Barclays to an account in the Cayman Islands.


All three banks are believed to have facilitated suspicious transactions that were linked to Fifa, its officials or companies connected to Fifa.


Earlier this week the US charged 14 football officials after a four-year FBI investigation into bribes for lucrative marketing rights to football tournaments.


The Serious Fraud Office in the UK said it would launch a full investigation if there was evidence of criminality.


Culture secretary John Whittingdale said the SFO would be called to look at the football scandal should it need to.


‘I have no doubt they will be looking closely to see if any laws have been broken in this country,’ he said in the Commons.


Leave a Reply

Your email address will not be published. Required fields are marked *