KNVB assist in money laundering risk probe

The Dutch Football Association have confirmed they will provide assistance to the country's central bank in their investigation into the risks of money laundering within the sport.

Netherlands' De Nederlandsche Bank (DNB) announced on Thursday its ongoing probe into banks and trusts over the threat of 'money laundering in professional football' had revealed elements of risk present.

DNB spokesperson Tobias Oudejans told Press Association Sport the investigation was not in view of a specific club, player, or official, and neither was it triggered by any specific incident, but was more of a 'general survey'.

The methods of money laundering being investigated include match-fixing, tax evasion, club ownership, royalty payments and finances related to player transfers and broadcasting.

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Netherlands' governing body for football, the KNVB, are one of many associations the DNB will hold discussions with.

A short statement from KNVB press officer Bram Groot to Press Association Sport read: "We were informed that the DNB will investigate.

"If they have any questions, we will answer them and we will help them as well as possible. At this moment there is not a lot more to say."

Oudejans also confirmed the results of the investigation would be revealed to its institutions and trusts by the end of June, though it remains to be seen if those will also be made public.

Earlier on Thursday, a statement from the bank on its website read: "The DNB is examining ways of preventing money laundering in professional football and whether these risks are acknowledged by banks and trusts.

"We have spoken to governmental agencies, KNVB, federations to get an image of various money laundering techniques that may be involved in professional football.

"What emerges is that, indeed, there are risks present in money streams connected to corruption, for instance in dealing with royalties, money laundering risks with transactions concerning transfers and broadcasting rights, and the risk in ownership of soccer clubs.

"Other forms of money laundering that may be present are evading taxes and match fixing."


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2 min read
Published 1 April 2016 at 2:58am
By Bibhash Dash
Source: PA Sport