Latest: Corruption and Money Laundering.

IOC’s Efforts for Stamping out Corruption.

Betfair for hosting.

The Olympic Movement, still the foremost international sporting event competition, has had its name tarnished by incidents of corruption and bribery among its committee members. Covering several hosting, there are allegations of candidate cities giving money and gifts to the members to influence their votes and hand over a win for a host city.

These speculations, true or not, are hurting the Olympics image of fair play and integrity, prompting investigations from separate agencies to protect the movement and prevent future attempts. The most infamous corruption to take place in the bidding for the host city is the 2002 Winter Olympics held in Salt Lake City, Utah. Members of the International Olympic Committee (IOC), the governing body of the organization, had accepted money and gifts, scholarships and jobs in the US for their sons and daughters and free medical treatment in the US for other relatives, all expenses charged to the Salt Lake Organizing Committee.

The investigating entities included the IOC and the US Department of Justice. Each one came up with their own findings and recommendations. Heads rolled, leaders resigned and a few were acquitted. But the IOC did not stop there. It made radical reforms to the rules in the bidding process to ensure that wrongdoings will not occur again. This meant travels to candidate cities are restricted and gifts given must only be nominal. The IOC also created an Ethics Commission made up of well-respected, independent and outside members from different countries...

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