Money laundering and compliance in professional football: the case of Belgium in light of the new EU AML single rulebook

Abstract

In recent decades, football has evolved from a purely sporting activity into a global economic phenomenon. Along with this metamorphosis, questions of corporate governance and compliance have come to the fore when it comes to the governance of (professional) football clubs. A good example is the consequences of, and efforts to prevent, criminal activities in the form of money laundering. In recent years, the risks of money laundering activities through the professional football sector have often been highlighted by, for example, European Union institutions. In Belgium, an alleged money laundering scandal in professional football led to legislative measures. This contribution considers the application of Belgium's preventive anti-money laundering framework to professional football in comparison to the novel EU AML Single Rulebook legal framework as applicable to professional football. It concludes that this legal framework is not a miracle solution to the problems facing the sector, and furthermore, the application of this framework raises several questions.