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Scharf Banks Marmor

Follow the Money

Written by Christian Liipfert

“Soccer Probe’s Latest Target: Banks,” The Wall Street Journal, July 24, 2015 C1. Banks asked to explain how they failed to detect the large payments of bribes in the FIFA soccer/football scandal.

Did the banks know, or should they have known, that there was illegal activity going on?  Were their controls effective?  Or reasonable?  And did they follow their own procedures?

It’s not a banking issue.  It’s a control issue.

Christian has spent much of the past 30 years practicing law in the energy sector, having worked in Washington, DC, Atlanta, Paris, Chicago, Hong Kong, and Houston. Most recently, he was the Programme Director, Global Information & Records, and the Information Policy Director for BP, an international energy company with operations in more than 100 countries.