FirstCaribbean Bank Begins Internal Review Following FIFA Bribery Scandal

A CIBC FirstCaribbean Int'l Bank spokesperson said that it has "begun an internal review to find out whether or not the bank was used for illicit purposes in the FIFA bribery scandal," according to Tilak & Rocha of REUTERS. An indictment announced by U.S. prosecutors on May 27 said that "one illegal payment was facilitated by a representative of FirstCaribbean, which is controlled by Canadian Imperial Bank of Commerce." The bank representative traveled from the Bahamas to N.Y. to "personally collect and deposit a check" on behalf of former FIFA exec Chuck Blazer, whom prosecutors said is the "main cooperating witness" in the investigation of FIFA. CIBC FirstCaribbean spokesperson Debra King said from Bridgetown, Barbados that the bank "has not been contacted by any law enforcement agency about the FIFA investigation." King: "We have initiated our own review in light of this matter and we will continue to take all appropriate steps towards ensuring that our bank is never used for illicit purposes" (REUTERS, 6/22).