Adding to the series of legal difficulties for Wirecard, the Justice Department is looking to see if the German payments company had an essential part in a purported $100 million bank fraud case involving a digital cannabis firm, The Wall Street Journal reported, citing unnamed sources....
Americans have lost more than $77 million in COVID-19 fraud since the start of the year, according to the Federal Trade Commission (FTC). Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional...
The court-appointed administrator guiding Wirecard AG’s insolvency said dozens of investors have emerged to buy what’s left of the Munich-based payments company, Reuters reported. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content —...
The U.S. Treasury Department’s financial crime unit has alerted financial institutions (FIs) about imposter scams arising during the COVID-19 pandemic. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe...
Wirecard executive Oliver Bellenhaus, 46, has been arrested in Munich for his alleged central role in the massive worldwide fraud case currently enveloping the company, the Financial Times (FT) reported. Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
The head of Luckin Coffee Inc. knew or should have known about the accounting misconduct at the Beijing-based java chain, The Wall Street Journal reported. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no...
As details about the failed management of Wirecard AG unfold, it becomes clear that the company’s core business has been losing cash for years, the Financial Times reported. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to...
The former chair of the London Stock Exchange is calling for a thorough overhaul of audit standards in the wake of the $2.1 billion Wirecard AG fraud fiasco. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to...
The president of the Federal Financial Supervisory Authority (BaFin), Germany’s financial regulator, said the $2.1 billion accounting scandal at the center of Wirecard AG’s insolvency was a “massive criminal act,” Reuters reported. Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
