Barclays and Standard Chartered have started their internal reviews after football's governing body was plunged into crisis after US authorities charged 14 defendants on Wednesday (27 May) with receiving more than $150m (£100m, €136m) in bribes.
Accounts located at the two banks were used to facilitate illicit money transfers according to allegations in the 164-page complaint which details over $150m in bribes paid in exchange for commercial marketing rights and football tournaments.
Reports say Barclays and Standard Chartered have started internal investigation into how they could have got caught up in the scandal.
HSBC has also be mentioned since is one of the largest banks in Switzerland but has declined to comment on whether it will start its internal investigation on FIFA corruption scandals.
Swiss prosecutors also opened criminal proceedings related to the awarding of the 2018 and 2022 World Cups.
The investigations came as the seemingly beleaguered Sepp Blatter tightened his grip on power at Fifa.
He was elected to a fifth term as president after Prince Ali bin al-Hussein dropped out of the race to succeed him before a second round of voting at Friday's congress vote in Zurich.
European football's governing body Uefa had backed Prince Ali in the election, while UK Prime Minister David Cameron was among many prominent names calling on Mr Blatter to step down.
The seven Fifa officials were arrested after the US Department of Justice issued a 47-count indictment - which followed an FBI investigation - charging 14 people with racketeering, wire fraud and money laundering conspiracies over a 24-year period.
