Connect with us

Sports

Football, Money-Laundering Vehicle – Study

Published

on

The multi-billion dollar global football sector has become a vehicle for money laundering and other forms of corruption, requiring an international response, a study published last week stated.
“Money laundering through the football sector is revealed to be deeper and more complex than previously understood,” said the Financial Action Task Force (FATF), an intergovernmental body formed to fight money laundering and terrorist financing.
The Paris-based group said its analysis found that “there is more than anecdotal evidence indicating that a variety of money flows and or financial transactions may increase the risk of money laundering through football.”
The football sector has in addition provided opportunities for other criminal activities such as trafficking in human beings and drugs, according to the FATF.
Based on responses to a questionnaire received last October from government and football authorities in 25 countries, more than 20 cases of football-related money laundering were detected, the task force said.
The cases ranged from the smuggling of large amounts of cash derived from apparently illegal transactions to more complex operations.
“Investments in football clubs can be used to integrate money of illegal origin in the financial system,” the study found. “Football clubs are indeed seen by criminals as the perfect vehicles for money laundering.”
Football since the early 1990s has undergone massive commercialisation through expanded television rights and corporate ownership. Player transfer payments have now reached “astounding dimensions,” the study said.
While there are no overall figures on the global financial scope of the football sector, the European market alone, according to the Deloitte Annual Review of Football Finance, was worth 13.8 billion euros (19 billion dollars), or 0.1 per cent European Union gross domestic product in 2007.
“The cross border money flows that are involved may largely fall outside the control of national and supranational football organisations, giving opportunities to move and launder money.”
Betting too enables huge flows of money to take place outside the control of governing bodies.
The FATF study found that “several cases linked to trafficking in human beings involve individuals directly or indirectly linked to the world of football.”
It described the circumstances surrounding the recruitment of players in Africa and Latin America as “unclear.”
And it said that with forbidden drugs and other substances now widely available over the Internet, there is expanded scope for organised crime to operate.
The study said that to fight corruption in football a greater understanding of the risks of money laundering associated with the game is needed on the part of government bodies and the private sector.
It argued that given the international nature of the sport, there should be greater standardisation of regulations governing management of the football sector worldwide.
“International cooperation and information sharing are key factors in the fight against money laundering” in football, the study also stressed.

Continue Reading

Sports

Siasia Blames NFF Over FIFA Ban

Published

on

Former Super Eagles Coach, Samson Siasia says the Nigeria Football Federation supported FIFA to have him banned for alleged involvement in match-fixing in August 2019.
In a recent interview with Athlist, the 56-year-old, whose ban ends in a few months, said the NFF not only refused to support him but also carried out FIFA’s instruction not to let him know he was under investigation by the world football body.
“Nigeria abandoned me at that time of need; that’s my own take on how this thing played out,” the former Eagles striker and member of the 1994 AFCON-winning squad, said.
“It’s an allegation; they said bribery. What is bribery? Is it not when money changes hands? Was there any proof of that? There were none.
“I spoke with someone who was trying to hire me as a coach in Australia. I didn’t know the guy was a match-fixer, but FIFA knew this guy. Why would they allow him to be around any FIFA tournament?
“So, when they found out through emails, our correspondence about how this guy would take me to Australia, I played in Australia, so I felt it would be nice to go back there.
“We talked about how much salaries, transfers, bonuses, and sign-on fees were, and that was all.
“When FIFA was looking for me, I didn’t even know. I am not affiliated with FIFA; their affiliation is with the NFF. So, they went to the NFF and told them not to let me know that they were investigating me. But if they didn’t tell me, how was I supposed to defend my self Siasia added, “Then they sent me a letter, but it went to my spam. It was two days before the ban that I found out that FIFA was looking for me.
Siasia added, “Then they sent me a letter, but it went to my spam. It was two days before the ban that I found out that FIFA was looking for me.
“Then we started to see how we could communicate with them to see how I could have a hearing. But they said the time had elapsed and I should go to the CAS (Court of Arbitration for Sport).

Continue Reading

Sports

WADA Plans Review Of Failed Tests

Published

on

The World Anti-Doping Agency (WADA) will launch an independent review after 23 Chinese swimmers were cleared to compete at the Tokyo Olympics despite testing positive for a banned substance.
WADA has said it was not in a position to disprove an assertion from the China Anti-Doping Agency (CHINADA) that contamination was the source of the heart medication trimetazidine (TMZ) for which the swimmers tested positive.
Findings of the independent investigation, led by Swiss prosecutor Eric Cottier, are expected to be delivered within two months.
“WADA’s integrity and reputation is under attack,” said Wada president Witold Banka.
“WADA has been unfairly accused of bias in favour of China by not appealing the CHINADA case to the Court of Arbitration for Sport.
“We continue to reject the false accusations and we are pleased to be able to put these questions into the hands of an experienced, respected and independent prosecutor.”
United States Anti-Doping Agency (USADA) Chief Executive Travis Tygart said WADA and CHINADA had swept these positives under the carpet, claims WADA described as completely false and defamatory while adding that it had referred the comments to its lawyers.
Aquatics GB said it was extremely concerned by the allegations, which it said threatened “potential loss of trust and reputational damage to sport”.
WADA was notified of CHINADA’s decision in June 2021, ahead of the delayed Games, and said it had no evidence to challenge China’s findings and that external counsel had advised against appealing.
In addition to the independent investigation, WADA said it will send a compliance audit team to assess the state of China’s anti-doping programme and invite independent auditors “from the broader anti-doping community” to join the trip.
WADA director general Olivier Niggli said: “While not one shred of evidence has been presented to support any of the allegations made against WADA, we wish to deal with the matter as quickly and as comprehensively as possible so that the matter is appropriately handled in advance of the upcoming Paris Olympic and Paralympic Games.”
Details of the positive tests were revealed by the New York Times, which shared reporting with German broadcaster ARD.
China won six swimming medals at the Tokyo Olympics, including three golds.

Continue Reading

Sports

AFN Lists Strong Squad For Bahamas Relays

Published

on

The Athletics Federation of Nigeria has listed Tobi Amusan, Favour Ofili and Omolara Ogunmakinju among the athletes to represent the country at the World Athletics Relays at the Thomas A. Robinson National Stadium in Nassau on May 4 and 5.
The body shockingly left out Favour Ashe, Nigeria’s fastest man so far this year, who would have helped Nigeria secure a 4x100m slot at the Paris 2024 Olympic Games.
The Auburn University undergraduate has been in great form this outdoor season, breaking 10 seconds twice (9.96 and 9.99).
The 21-year-old was not among the 29 names World Athletics released on Tuesday in the final entry list by Nigeria for the event, and AFN has yet to give reasons for its decision t Meanwhile, Godson Oghenebrume and Udodi Onwuzurike head the list of eight sprinters listed for the men’s 4x100m event.
Others are Alaba Akintola, Karlingthon Anunagba, Consider Ekanem, Seye Ogunlewe and Israel Okon Sunday.
The team will strive to be among the best 14 finishers to secure a lane in Paris for the first time since 2008, when the quartet of Onyeabor Ngwogu, Obinna Metu, Chinedu Oriala, and Uchenna Emedolu did not finish in the first heat of the event at the Bird’s Nest in Beijing, China.
For the men’s 4x400m, African Games 400m champion Chidi Okezie headlines the list of eight quarter milers listed to return Nigeria to the Games since 2004, when Godday James led the team to a bronze medal finish in Athens, Greece.
Others are Sikiru Adeyemi, Dubem Amene, Ezekiel Nathaniel and his brother, Samson Nathniel, Dubem Nwanchukwu, Samuel Ogazi, who has been improving since his switch to the University of Alabama and holds the Nigerian U-18 record and Ifeanyi Ojeli.

Continue Reading

Trending