May 04, 2024 12:00:00European Parliament designates professional soccer teams as entities subject to money laundering controlsThe European Parliament has passed a new bill to regulate money laundering, which will impose stricter regulations on professional soccer teams, which have become hotbeds of money laundering. According to the foreign media The Guardian, the trend of regulating professional soccer teams in Europe began in Belgium. In response to the results of the investigation in Belgium, the European Union added professional soccer teams to its money laundering watchlist. Belgium had enacted its own anti-money laundering regulations targeting professional soccer teams prior to the adoption by the European Parliament, but some professional soccer teams were slow to comply with the regulations. In light of this situation, the proposed regulation adopted by the European Parliament gives professional soccer teams a five-year grace period to begin implementing the regulations.

Source: The Guardian May 04, 2024 03:44 UTC