The United Kingdom’s regulatory authority said Wirecard AG was correcting issues raised by the $2.1 billion accounting scandal, but restrictions on the collapsed German payments company will stay, Reuters reported. Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
Author George Santayana famously wrote: “Those who cannot remember the past are condemned to repeat it.” And Mark Twain once wrote: “History doesn’t repeat itself, but it often rhymes.” Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
In the ongoing scandal of Wirecard, under fire for fraud, the focus is now turning to auditors Ernst & Young (EY), which reportedly failed to report Wirecard’s “unorthodox financial arrangements” as far back as 2016, The Wall Street Journal (WSJ) reported. Get the Full Story...
One of the leaders of Infraud Organization, the international cybercrime network, has pleaded guilty to conspiracy, according to the U.S. Department of Justice. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no...
The CEO of Crypto.com, a Wirecard Card Solutions card issuer, vowed to issue refunds to its customers hours after the United Kingdom’s financial regulator froze German payment processor Wirecard’s cash and assets. Get the Full Story Complete the form to unlock this article and enjoy...
The United Kingdom’s financial watchdog agency has ordered Britain’s Wirecard subsidiary to freeze the German payment company’s funds as regulators determine the next steps, The Wall Street Journal reported. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to...
Ernst & Young (EY), the global accounting firm hired to verify Wirecard’s financials, failed to request crucial information from a Singapore bank where the German payment processor claimed it had up to 1 billion euros ($1.1 billion) in cash, the Financial Times reported. Get the...
Mastercard and Visa are considering ending their agreements with Wirecard to process payments on their networks as the German financial technology company’s accounting scandal unravels, Bloomberg reported. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all...
The Wirecard scandal surrounding the German payment processor missing $2.1 billion has spilled over the border to Belgium. 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 to...
