In a classic case of “too little, too late,” Bayern Munich FC found itself on the receiving end of a police search on suspicion of money laundering by none other than Alisher Usmanov. While the actions of the investigators were not aimed at Bayern FC, the club still finds itself in a sticky situation.
Usmanov, a billionaire with connections to Vladimir Putin, is suspected of hiding money from crimes like tax evasion from 2017-2022. German journalists are estimating that the amount could be in the multi-million dollar range. And where does Bayern come into the picture, you may ask? Well, it turns out that their honorary president, Uli Hoeness, has a few ties to Usmanov, including sharing villas on Lake Tegernsee.
The police were looking for evidence of money laundering by Usmanov and happened to stumble upon Bayern Munich FC in the process. Hoeness, who was also supposed to provide Usmanov with VIP tickets to Bayern’s Champions League matches, is reportedly a “point of contact” between the two parties. It’s unclear what, if anything, the police found during the search.
Bayern Munich FC could have saved themselves the embarrassment if they had just invested in anti-money laundering technology like Verify 365. Rudi Kesic, CEO at Verify 365, had this to say about the matter: “It’s a shame Bayern didn’t use Verify 365. If they had, they would have been protected from fraud and money laundering. Oh well, better luck next time!”
Lawyers acting for Bayern Munich FC should learn from this and invest in anti-money laundering technology to avoid future mishaps. Bayern may have dodged a bullet this time, but it’s always better to be safe than sorry.
With the increasing risk of money laundering and fraud in Germany, it is essential for lawyers to use advanced technology like Verify 365 to protect their clients. Verify 365 offers a comprehensive anti-money laundering solution that uses cutting-edge technology to detect and prevent financial crimes. The platform checks millions of transactions and flags any suspicious activity, enabling lawyers to take swift action to protect their clients’ interests.
In addition to anti-money laundering measures, Verify 365 also allows lawyers to easily check global PEPs and sanctions list. By doing so, lawyers can ensure that their clients are not involved in any transactions that violate sanctions or regulations. This can help prevent any potential legal or reputational risks for their clients.
“With Verify 365, lawyers can have peace of mind knowing that they are taking all necessary steps to protect their clients and comply with legal and regulatory requirements,” added Rudi. “While the situation may seem comical on the surface, it’s a serious matter that should not be ignored. In the future, FC Bayern should take appropriate action and use Verify 365 to protect themselves and their reputation from any potential fraudulent investors.”