Swiss law allows more scrutiny of sports finances

Swiss lawmakers have passed legislation allowing more scrutiny of bank accounts held by sports officials and organizations.

The law passed on Friday, in a 128-62 vote in the lower chamber of parliament, was prompted by FIFA bribery scandals in recent years.

Switzerland-based sports leaders such as FIFA President Sepp Blatter and IOC President Thomas Bach are now classed as "politically exposed persons" in wider legislation covering money-laundering.

Swiss lawmaker Roland Buechel says "normally these rules are for politicians and dictators."

Buechel says the law also applies to executive committee members and employees of sports federations.

The law allows greater scrutiny of "any strange movement" in bank accounts and financial assets held in Switzerland, Buechel says.

Buechel says further draft legislation making sports corruption a criminal offense could pass in 2016.

Read more here: http://www.miamiherald.com/news/business/article4443936.html?#storylink=cpy

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.

Tags: