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  1. 1 Jocz R.

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Anti-money Laundering Regulations in the Football Sector: Opportunities and Challenges

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Jocz R.
Financial Law Review
|
2024
|
vol. 36
|
issue 4
63-81
EN
The article analyzes the key factors contributing to the vulnerability of the football sector to money laundering and evaluates the regulations introduced under the 2024 European Union Anti-Money Laundering (AML) Package. The author highlights that the unique characteristics of the football sector, including complex organizational structures, lack of financial transparency, and the cross-border nature of financial flows, significantly increase its susceptibility to exploitation for illegal financial activities. Incorporating the football sector into AML regulations represents a significant step in combating money laundering, promoting financial transparency, and reducing opportunities for illicit activities. However, the implementation of these regulations presents numerous challenges, such as high compliance costs and the need for employee training. The article emphasizes the importance of harmonizing regulations through the adoption of a regulation, which minimizes the risk of legal loopholes and discrepancies in national implementations. It also underscores the role of international cooperation and a dynamic approach to monitoring the enforcement of these regulations. The analyses conducted confirm that extending AML regulations to the football sector is a necessary and promising measure, but further actions are essential to effectively reduce financial crime and enhance the global stability of the football industry.
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