The broader context within which the European Union (EU) decided to include football clubs in its new anti-money laundering/counter-terrorist financing (AML/CTF) regulation also includes serious allegations made against some of the world’s most successful football clubs. Although the spotlight on financial fraud in football has been shone mostly at top European clubs, the problem of financial crime in football is much more systemic. Accounting Fraud, Tax Evasion and Money LaunderingAllegations of using football clubs to launder funds have a long history across Europe. Football clubs can start to prepare by undertaking a risk assessment and, based on that drafting, an AML/CTF framework that meets their specific risk categorization. In any case, whether they are below or above the threshold, all football clubs, especially professional football clubs, should be aware of their risk exposure in relation to money laundering.

Source: Sky sports June 14, 2024 13:13 UTC