Published On: Thu, Jun 4th, 2015

Cayman Islands bank to review transactions in FIFA probe

Anwer-Sunderji-fidelty-group-ceo-LOOPGEORGE TOWN, Cayman Islands -- According to Caribbean News Now, Fidelity Bank in the Cayman Islands, one of six Caribbean banks implicated in the FIFA corruption scandal, has announced plans to conduct an internal review of transactions linked to the FIFA probe.

US prosecutors allege bribery payments to former Confederation of North, Central American and Caribbean Association Football (CONCACAF) president, Jeffrey Webb, were routed through Fidelity Bank accounts in the Cayman Islands, controlled by Webb’s attaché Costas Takkas.

The bank’s parent company, Fidelity Group, said in a statement Tuesday that it had called in external experts to assist with the review of the transactions referred to in the indictment.

“Licensed institutions are required to report suspicious activity and we are satisfied that the bank discharged its duty with respect to the specific transactions. We will be embarking on a comprehensive independent review of our procedures and processes to confirm that our bank is indeed in line with regulatory requirements,” Fidelity Group CEO Anwer Sunderji said in a statement.

The Fidelity statement said it was cooperating fully with authorities.

“Fidelity Group takes seriously the allegations surrounding Mr Webb and the other individuals connected with the FIFA investigation. The bank is not aware of any allegations against it, but has been cooperating in full accordance with its responsibilities with regulators and other government authorities, and will continue to do so,” the statement said.

“The directors and executives consider the fight against money laundering to be a priority issue, and while we move through this process, we want to ensure that our valued customers and our staff understand that we will continue to operate as normal, providing our standard, high quality service,” Sunderji added.

Meanwhile, the Cayman Islands Monetary Authority (CIMA) released a statement on Monday saying it would act “appropriately, dispassionately and in accordance with our obligations under the law” in the face of allegations linking Fidelity Bank to the ongoing FIFA corruption probe.

“The Cayman Islands Monetary Authority is aware of the allegations which have been made by Swiss and US Federal authorities regarding a number of officials of FIFA and a bank regulated by the authority.

“The authority takes these matters very seriously and in respect of the allegations relating to one of our licensees, we will act appropriately, dispassionately and in accordance with our obligations under the law.

“However, at this stage it would be inappropriate and legally impermissible for us to make any further comment or statement on these matters," CMA said.

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