Particularities of anti-money laundering methods in football
| Published date | 28 March 2020 |
| Date | 28 March 2020 |
| Pages | 885-897 |
| DOI | https://doi.org/10.1108/JMLC-09-2019-0075 |
| Author | Sonja Cindori,Ana Manola |
| Subject Matter | Accounting & Finance,Financial risk/company failure,Financial compliance/regulation,Financial crime |
Particularities of anti-money
laundering methods in football
Sonja Cindori
Department of Financial Law and Financial Science, Faculty of Law,
University of Zagreb, Zagreb, Croatia, and
Ana Manola
Faculty of Law, University of Zagreb, Zagreb, Croatia
Abstract
Purpose –Based on an overview of the anti-money laundering initiatives in the sport sector and recent
efforts of money launderers focused toward finding alternative channels for money laundering operations,
the purpose of this paper is to present the modus operandi of money laundering in the football sector
especially.
Design/methodology/approach –Specifics of money launderingthrough the football sector have been
analyzed using deductive and inductive methods.This paper provides a review of the existing anti-money
laundering initiatives in the sport sector to highlight the specific features of sport that increase money-
laundering risks in the football sector. Certain risks have been analyzed and linked to risk areas and
money launderingmethods as a way of demonstrating establishedmodus operandi.
Findings –Analyzedvulnerabilities that arise from the structure, financial characteristicsand culture of the
football sector represent an increased risk of money laundering in a condition where potential money
launderersachieve status of investors, football agentsor owners of football clubs and players. Takingsome of
these roles allows money launderers to enter into transactions related to the acquisition of ownership over
football clubs or player transfers. Such types of transactions are particularly exposed to abuse for the
purposesof the money launderingprocess due to their unique features.
Originality/value –Through a wide range of clarifiedrisks and money laundering methods applicable to
the football sector, thispaper offers a comprehensive review of the existing moneylaundering threats in the
footballsector and proposals of prevention.
Keywords Sponsorship, Risk, Transparency, Money laundering, Football, Transfers,
Beneficial owner, Image rights
Paper type Research paper
1. Introduction
Sport has the power to change the world. It has the power to inspire, it has the power to unite
people in a way that little else does. It speaks to youth in a language they understand. Sport can
create hope, where once there was only despair (Mandela, 2000).
Nowadays, these great ideals of sport stand on the shoulders of a complex global industry
characterized by enormous financialpower and equally enormous financial needs as well as
a large number of different stakeholders.
To indicate vulnerable points and high-risk areas of the sport sector, following the
introduction, Section 2 presents the role of the football sector as an alternative to the
financial sector in the money laundering process. Section 3 analyzes the efforts of
international organizations to prevent money laundering, while the issue of vulnerabilities
and areas of special football sector risks are dealt with in Sections4 and 5, respectively. The
significant predicate offenses are analyzedin Section 6, followed by the impact of increased
Anti-money
laundering
885
Journalof Money Laundering
Control
Vol.23 No. 4, 2020
pp. 885-897
© Emerald Publishing Limited
1368-5201
DOI 10.1108/JMLC-09-2019-0075
The current issue and full text archive of this journal is available on Emerald Insight at:
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