(BBG – click to see) UBS Group AG said it has received inquiries from authorities about its banking relationships with FIFA officials, days after rival Credit Suisse Group AG disclosed it was being questioned in the corruption probe that has engulfed soccer’s global governing body.
The inquiries are about FIFA and “other constituent soccer associations,” Zurich-based UBS said in its third-quarter financial report, declining to name those bodies.
The arrest in May of seven soccer officials in Zurich on the eve of FIFA’s congress and the indictment of seven others on charges of racketeering, wire fraud and money laundering has led to a widening series of investigations in Switzerland, the U.K. and the U.S. The scandal spread in September with the Swiss Attorney General opening criminal proceedings into FIFA President Sepp Blatter over a 2 million-franc ($2 million) payment he made to European soccer chief Michel Platini. Both men have said they did nothing illegal but have been suspended by FIFA for 90 days.
Several banks, including Zurich-based Julius Baer Group Ltd., started internal investigations after the U.S. Justice Department named them in the May indictment. In the U.K., Standard Chartered Plc, has said it’s looking into two payments it cleared that were mentioned in the FIFA indictment. HSBC Holdings Plc and Barclays Plc, both based in London, are also studying transactions to ensure proper procedures were followed, the Sunday Times reported in May.
Credit Suisse said on Oct. 30 that it’s cooperating with U.S. and Swiss investigations into whether financial institutions allowed the processing of suspicious transactions, or failed to observe anti-money laundering laws in their dealings with FIFA.