Swiss bank UBS says it is “co-operating with authorities” investigating financial corruption linked to Fifa.
UBS says in its quarterly report published today it was contacted about accounts relating to Fifa abd other related associations and individuals.
“UBS has, and reportedly numerous other financial institutions have, received inquiries from authorities concerning accounts relating to the Federation Internationale de Football Association (Fifa) and other constituent soccer associations and related persons and entities,” Switzerland’s largest bank said in its earnings statement.
“UBS is cooperating with authorities in these inquiries,” it said.
According to Swiss law, banks are required to report all suspicious accounts and transactions.
The Swiss case relates to criminal mismanagement at FIFA and money laundering linked to the 2018-2022 World Cup bidding contests.
UBS joins Credit Suisse and Julius Baer among banks in Switzerland to acknowledge they are helping prosecutors.