Arab Today, arab today ubs it has received inquiries over fifa banking links
Last Updated : GMT 18:31:22
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UBS: It has received inquiries over FIFA banking links

Arab Today, arab today

Arab Today, arab today UBS: It has received inquiries over FIFA banking links

A Swiss flag is seen behind a sign of Swiss bank giant UBS
Geneva - AFP

Swiss banking giant said Tuesday that it too had been questioned over links with , after acknowledged last week it was being probed in the massive corruption scandal rocking football's governing body.

" has, and reportedly numerous other financial institutions have, received inquiries from authorities concerning accounts relating to the Federation Internationale de Football Association () and other constituent soccer associations and related persons and entities," Switzerland's largest bank said in its earnings statement.

" is cooperating with authorities in these inquiries," it said.

The announcement came after the bank's main Swiss rival announced Friday that it was under investigation by Swiss and US authorities over banking links with officials accused of bribery and corruption.

said the investigation focused on individuals and entities "including but not limited to certain persons and entities named and/or described in the May 20, 2015 indictment filed in " as part of an ongoing investigation into alleged corruption.

has been in crisis since May, when US authorities announced charges against 14 officials and sports marketing executives over bribery allegations amounting to more than $150 million.

As the investigation has deepened, the scandal-plagued organisation has come under pressure to undergo deep reform with major sponsors queueing up to demand become more accountable and transparent.

Last month, long-time president was suspended, as was chief , who still has his sights set on Blatter's job.

A new head is set to be elected on February 26.

Sponsors have been urging a reform process similar to that used by the after it was dragged into a bribery scandal over the 2002 Winter Olympics.

According to Swiss law, banks are required to report all suspicious accounts and transactions.

In July, Swiss authorities said they had uncovered 81 suspected money laundering transactions linked to the scandal.

And in September, 's attorney said investigators had seized assets, including apartments in the Alps, and were scrutinising 121 bank accounts.

"Clearly, we are not even near the half-time break," he told reporters at the time.

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