Andrew Street’s Post

Euro 2024 was the first of many long-awaited sporting events this summer, culminating with the 2024 Olympic Games in Paris. However, as sport becomes more global and its coverage expands, so does its exposure to the risk of corruption. Read the latest insights in our new Confronting Corruption campaign from our Partner Andrew Street and Associate Irina Tuca who discuss the way corruption manifests itself in sport, the impact it has on the stakeholders involved and the questions it raises about the necessity and challenges of potential reform. Click the link below to read more about sports corruption: https://lnkd.in/eRdf8YKT #BCLPConfrontingCorruption #MatchFixing #Corruption #Sport #Gambling

Corruption and the lack of Financial Integrity and Transparency threatens the very essence of Sport. They undermine trust, compromise values, and allow criminal infiltration to take root. This is not just unacceptable — it demands action. That’s why we #SideWithSIGA Sport Integrity Global Alliance to Fight Corruption in Sport! Initiative For Development through Sport(fka SPYD) is honored to be a co-signatory of the New York Declaration on Financial Integrity and Transparency in Sport, a bold call to protect Sport’s core values and ensure a future built on transparency, accountability, and integrity. This, however, isn’t just about us. It’s about all of us. Governments, federations, clubs, sponsors, and fans must unite and say: enough is enough. Read it. Sign it. Share it. Add your voice to the movement. Together, we can create lasting change. 👉 https://shorturl.at/dDLEk #SideWithSIGA to Fight Corruption in Sport #IACW2024 #UnitedAgainstCorruption #IACD2024 #IDSportAfrica

The EU has included football in its #AML regulation, which will require professional clubs, agents, and associations to apply strict #DueDiligence measures, regarding #MoneyLaundering risks in particular. Given the amount of money involved with the sport, as well as some recent corruption scandals, it was only a matter of time until the EU took this step. And with several clubs throughout Europe owned by Russian oligarchs, it’s clear that football is a very sensitive area in the current world of #Sanctions. Unfortunately, the UK did not join the movement yet, despite the vast sums of money handled by its Premier League and its immense global popularity, but I hope that will change in the near future. What do you think about this EU move? https://lnkd.in/eXPTyWMB

🌟 Tackling Corruption in Sport: The Sport Integrity Journal #7 Launches on December 13! 🌟 Augusto Cesar Piaskoski, SIGA Youth Council Member, analyzes Brazil’s regulatory advancements in his article, Combating Corruption and Money Laundering in Sports: A Look at the Betting Market and Brazilian Football. Augusto discusses how compliance mechanisms like Know Your Customer (KYC) and due diligence are reshaping the relationship between the betting market and football. “The regulation of the betting market also raises the bar for its commercial relationships, which inevitably impacts football clubs that rely on such sponsorships.” – Augusto Piaskoski Read and Sign SIGA's New York Declaration on Financial Integrity and Transparency in Sport https://lnkd.in/d-946ekZ #SideWithSIGA to Fight Corruption in Sport! #IACW2024 #IACD2024

'Belgium’s anti-money laundering law: How does it impact football clubs?' by Marcel Dejonghe: https://lnkd.in/epVmrJmg The Belgian government launched a major investigation into corruption in football in 2018. As a result, stricter anti-money laundering regulations were introduced for professional football clubs. This article discusses these regulations and their impact on Belgian football. #sportslaw

Meet the Seasons of Crime Newsletter! https://lnkd.in/ek-KYX-R As part of World of Crime's expansion, our newsletter is being rechristened as "Seasons of Crime." We will use it as a platform to investigate how organised crime affects different parts of society, from AI to climate change. But beyond investigating crime, each article will feature a series of policy recommendations built on existing solutions, current legal obstacles, and new criminal techniques. ⚽ With Euro 2024 in full swing, it felt right to start with a Season about Organized Crime and Football. Over the next two months, we'll write about: - the rise of shady betting sponsors in the English Premier League; - how Mexican cartels might trouble the 2026 World Cup; - the rise of crime in women's football - how illegal gambling syndicates seek to influence matches in football, handball, badminton and even pétanque. - why Malta is blocking regulations to curb match-fixing in Europe; - and whether African football federation presidents have too much power. https://lnkd.in/eKNhn9t5

As the Olympics approach, #compliance officers aren't just rooting for their favorite athletes – they're keeping a close eye on the #EthicsAndCompliance landscape. Join Andy Spalding, a member of the Olympics Compliance Task Force, and John Newsum of SAI360 as they discuss how the Paris Olympics could mark a new era in #megasports and #compliance. The discussion is moderated by Corporate Compliance Insights' Sarah Hadden and will include topics such as: 🇫🇷 How is France’s Olympic anti-corruption framework unique? 🇫🇷 As minor corruption issues are flagged and investigated, will they be perceived as scandals, or as signs the system is working? 🇫🇷 What does the French precedent mean for future megasport hosts such as the U.S., Australia or Saudi Arabia? Register today to join our live webinar June 25. https://hubs.ly/Q02zyVSv0

UEFA president Aleksander Čeferin on Friday expressed his “total support” for Italian #soccer chief Gabriele Gravina, who is being investigated by #Rome prosecutors for alleged #embezzlement and #money laundering. #antimoneylaundering #AML #moneylaundering #dirtymoney #CFT #counterterrorismfinancing #financialcrime #financialcrimes #compliance #complianceofficer #duediligence #terroristfinancing #pep #sanctions #audit #FinancialIntelligenceUnits #FIU #SuspiciousActivityReport #cdd #kyc #regulations #CFP #risk #riskmanagement #investigation #monitoring #uefa #italy #europe

As the Olympics approach, #compliance officers aren't just rooting for their favorite athletes – they're keeping a close eye on the #EthicsAndCompliance landscape. Join Andy Spalding, a member of the Olympics Compliance Task Force, and John Newsum of SAI360 as they discuss how the Paris Olympics could mark a new era in #megasports and #compliance. The discussion is moderated by Corporate Compliance Insights' Sarah Hadden and will include topics such as: 🇫🇷 How is France’s Olympic anti-corruption framework unique? 🇫🇷 As minor corruption issues are flagged and investigated, will they be perceived as scandals, or as signs the system is working? 🇫🇷 What does the French precedent mean for future megasport hosts such as the U.S., Australia or Saudi Arabia? Register today to join our live webinar June 25. https://hubs.ly/Q02zySyZ0

I recently stumbled upon an eye-opening story that highlights the importance of vigilance when it comes to credit exposures to related parties of reinsurers. The Bermudan authorities were slow to act in this case, which raises concerns about their ability to effectively regulate this aspect of the industry. Read on to learn more about this issue. #reinsurance #bermuda