BUENOS AIRES, Argentina (AP) — Soccer clubs in Argentina are now being required to provide detailed reports on any transactions in an effort to prevent money laundering.
Under pressure from the global Financial Action Task Force, Argentina’s Financial Information Unit published the new rules Wednesday.
The rules require the Argentine Football Association and every club in the top two divisions to file reports not only on officials, players, owners and staff who make at least $13,800 a year, but on companies the association and clubs do business with.
In addition to the usual reporting of salaries, the rules call for bonuses, loans and deals such as housing, cars and financial arrangements involving family members to also be reported.
Fines will be issued for noncompliance.
