SPORT WITHOUT GAME– MONEY LAUNDERING

Abstract

Sport is firmly connected to the politics in the whole world, so as in the Republic of Serbia. Expressed motives in sport led to the appearance of new problems, like money laundering and business and moral unreliability of the participants. Some of anomalies are connected with politically exposed persons (PEP).

Giving services in the frame of banking, especially when the private banking is concerned, understands a higher degree of discretion and trust comparing with the ordinary clients. Misusage of these business relationships of PEP is identified. In this paper is conducted research of statistically significant differences between domestic banks and the domestic banks with the foreign capital in relation with the group of procedures related to PEP based on the Recommendation 6of the Financial Action Task Force on Money Laundering, FATF). Although the domestic banks with the foreign capital were obliged to apply the procedures related to the FATF’s Recommendations, in the same volume as in the Main Office, the significant differences were not found out between domestic and foreign banks, concerning Recommendation 6. Inadequacy of regulations and lack of enforcement procedures jeopardize the program of reforms. Therefore, the privatization in sports is under a threat.

General and special scientific methods (studies of case and questionnaire) were used in this paper.

Key words: Money laundering, Sport, Football, Politicians, Questionnaires