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Wirecard assets begin carve up as Railsbank takes UK entity
The break-up of Wirecard has begun as it agreed to sell what is left of the UK business to Railsbank, a UK FinTech backed by Visa. The UK deal, which... more
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“Germany’s Enron” – the secondary effects of Wirecard’s collapse, examined
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 offices raided as fraud allegations gain momentum
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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Wirecard continues death slide in insolvency
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
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The house of Wirecard falls in as €1.9 billion goes missing
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.
