British banks probe FIFA transactions

Standard Chartered, Barclays and HSBC launch internal investigations into payments included in FBI's FIFA indictment

Photo by: Reuters
Photo by: Reuters

Updated Jul 28, 2015

Three British banks – Barclays, Standard Chartered, and HSBC – have begun internally investigating transactions linked to the corruption allegations in FIFA, according to media reports.

“We are aware that two payments cleared by Standard Chartered are mentioned in the indictment. We are looking into those payments,” Standard Chartered said in a statement, while neither Barclays nor HSBC commented on the probes.

According to 164 pages of FBI indictment against 14 Zurich officials by US prosecutors, transactions worth hundreds of thousands of dollars were made through 14 banks including three British banks. Seven of the accused officials were arrested last week.

The banks have not yet been accused of any wrongdoing.

However, US prosecutors warn that the investigation is still continuing and they are looking into the conduct of financial organisations.

“Part of our investigation will look at the conduct of the financial institutions to see whether they were cognizant of the fact they were helping launder these bribe payments,” US prosecutor Kelly Currie told Voice of America.

“It's too early to say if there is any problematic behaviour.”

TRTWorld and agencies