UBS targeted as Fifa probe spreads to bank sector

The crisis at soccer’s global governing body continues to spread as authorities in Germany and Switzerland target banks and national sport associations for financial transactions linked to Fifa.

UBS Group said yesterday that it received inquiries from authorities about its banking relationships with Fifa officials days after rival Credit Suisse Group disclosed it was being questioned.

In Germany, prosecutors and police raided the country’s soccer association in a probe into a €6.7m payment to Fifa linked to the country’s application to host the 2006 World Cup.

UBS said the inquiries are about Fifa and “other constituent soccer associations”. The bank declined to name those bodies when it released the information in its third-quarter financial report.

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