14th Dec 2015 06:53
LONDON (Alliance News) - Prosecutors in the US are threatening to punish banks for failing to report suspicious activity on accounts linked to FIFA, world football's governing body, as part of the sprawling corruption probe into the group, according to the Financial Times.
People familiar with the case told the FT a series of banks, including HSBC Holdings PLC and Standard Chartered PLC, are holding private talks with prosecutors about what they knew and when as part of the FIFA probe.
All the banks involved held accounts for FIFA or FIFA-connected entities and individuals, or which were used as part of money transfers.
The other banks involved in the probe include JPMorgan Chase & Co, Bank of America Corp, Citigroup Inc, Credit Suisse AG and UBS AG.
https://next.ft.com/content/6595b09c-a02b-11e5-beba-5e33e2b79e46
By Sam Unsted; [email protected]; @SamUAtAlliance
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