Wirecard’s dramatic fall from grace has thrust corporate governance and industry regulation across Europe firmly in the spotlight. The Munich-based payments processor filed for insolvency on Thursday 25 June, reportedly... more
The post “Germany’s Enron” – the secondary effects of Wirecard’s collapse, examined appeared first on Payments Cards & Mobile.
Wirecard’s offices in Germany and two locations in Austria have been raided by Munich prosecutors looking into the €1.9 billion that went missing from the company’s accounts. 12 prosecutors and... more
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The former darling of the German FinTech scene, Wirecard has collapsed into insolvency following revelations of a multiyear accounting fraud. Wirecard announced in a regulatory statement that it faced “impending... more
The long running accounting saga with Wirecard appears to have taken a turn for the worse as its auditors this morning announced it could not confirm the existence of €1.9... more
The post The house of Wirecard falls in as €1.9 billion goes missing appeared first on Payments Cards & Mobile.
Wirecard says that the independent audit by KPMG into fraud allegations uncovered no need to restate earnings, but added that all the data needed to confirm past revenues could not... more
The post KPMG reports clean bill of health for Wirecard fraud allegations appeared first on Payments Cards & Mobile.