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Money Laundering through the Football Sector


Offshore Agent
Jan 6, 2009
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In the past two decades, football has changed from a popular pastime into a global industry. With the growing economic importance of football along with other sports, the investment of money into the sector has increased exponentially, and some of this has criminal connections.

The FATF has just completed a study to determine what makes the football sector attractive to criminals. Why look at football? It is by far the largest sport in the world – more than 250 million people play – and the FIFA World Cup final in 2006, for example, attracted over 1 billion viewers. Despite the rapid growth and high visibility of the football sector, however, football’s regulatory structure has not yet caught up with some of the risks that come with these changes.

The FATF report examines the sector in economic and social terms and provides case examples identifying areas that could be exploited by those who want to invest illegal money into football. In preparing this analysis, the authors engaged with some of the major sports organisations, such as FIFA, UEFA and the International Olympic Committee, in addition to relevant experts from FATF and non-FATF member countries.

The goal of this FATF report is to draw attention to some of the risks facing the football sector in particular – and the sports industry in general – to misuse by criminals so that government policy makers, law enforcement, the financial sector and sports regulatory authorities can better understand and begin dealing with this problem.
Here's the MO of money laundering: They steal money, use this to buy travellers cheques at various locations which are then sent out of the country to a receipient (you) who cashes them. This makes it look more legit as a traveller's cheque with a particular code on it is shown to be bought in one country and cashed in another, as the majority are. When you send the money onto them they have different notes to those stolen, with a paper trail that runs through three countries with differing privacy laws that combine to make it nigh on impossible to string them together into a continuous chain.


It is my passion to provide tax tips
tonygun, they are still successful. They are always under suspect by the police but they were not able to catch them.

They always find new ways to get the money across the borders without paying any taxes on it.
Despite strict strick enforcement of anti-money-laundering laws, criminals are constantly finding ways to transform dirty money into clean cash. Money launderers may funnel money through supposedly legitimate business and they are constantly adapting their techniques. Law enforcers can slow it down but they will never be able to stamp it out.
tongyun said:
Wow, never realized how organized these organizations were at money laundering. Just imagine if these criminals turned their skills toward legal ventures how successful they would be.
LoL that's so true they should spent their wisedom better.

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