UK banks begin own internal investigations into Fifa scandal
UK banking giants Barclays, HSBC and Standard Chartered have reportedly launched internal reviews following the money laundering allegations made against Fifa last week.
Standard Chartered confirmed the reports.
Sources within the banks said they are already working their way through thousands of records to establish whether or not they carried out sufficient checks to avoid money laundering being carried out through their banks, the Sunday Times said.
The three lenders, along with five others, were last week named in a dossier that accused the sport's governing body of carrying out widespread corruption. None of the banks are accused of any wrongdoing.
Prosecutors in America have alleged the organisation has laundered bribes through accounts held with US, UK and Swiss banks.
The newspaper said that while the sources expressed confidence everything possible had been done to ensure illegal activity did not take place, with such clients the transfer of large sums of money such as $1-2m "would not necessarily have raised red flags".