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Investments in World Cup Tow Money Laundering Risks Along With Entertainment

By Colby Adams

The large number of transactions involving World Cup real estate deals, soccer players and tourism may be vulnerable to abuse by money launderers, say compliance consultants. The month-long tournament is expected to net at least $3 billion in sponsorships alone, according to the International Federation of Association Football (FIFA). South Africa, which is hosting the quadrennial event in nine of its cities, has invested over $3.6 billion, according to FIFA estimates. All told, the tournament will bring over $7.2 billion to the South African economy, and net nearly $2.5 billion in taxes for its government, according to research from Grant...

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