Fifa To Crack Down On Money Laundering
World football governing body FIFA has claimed it can prevent money laundering in football transfers by expanding the use of the Transfer Matching System.??
The system requires both clubs in a player’s transfer to enter verified details of the payments and parties involved online.
??But FIFA president Sepp Blatter says that, if the system is expanded then money laundering could be wiped out.??
‘TMS is a relatively simple online system but it will have a tremendous impact,’ said Blatter. ??
The system started with 18 countries taking part in February 2008 and will be compulsory around world football from October.
If clubs fail to enter the required details, the national associations will be unable to grant the paperwork needed to complete a deal.
The system requires details of the player, the clubs, the bank accounts and any payments made to previous clubs and must be given for each move.
