Germany

SoftBank Wants Out Of Wirecard Partnership After Last Year’s $1B Investment

SoftBank Wants Out Of Wirecard Partnership After Last Year’s $1B Investment
SoftBank Wants Out Of Wirecard Partnership After Last Year’s $1B Investment
July 01, 2020  |  Cybersecurity

SoftBank is looking to put distance between itself and Wirecard due to the German payments company’s ongoing scandal involving missing money and cooked books, The...

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Police Raid Wirecard’s Offices In Two Countries
Police Raid Wirecard’s Offices In Two Countries
July 01, 2020  |  Cybersecurity

A team of investigators raided Wirecard AG’s offices in two countries as part of the probe into the 1.9 billion euros ($2.1 billion) that went...

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Source: German Regulators Failed To Take Action On Wirecard Red Flags
Source: German Regulators Failed To Take Action On Wirecard Red Flags
June 29, 2020  |  Bank Regulation

Numerous regulators had discussions over the years about tightening supervision on Wirecard or adding it to a list of potential subjects for more investigations, but...

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Today In Payments: Wirecard Forces German Accounting Regs Reboot; Consumers Sour On Travel Rewards Cards
Today In Payments: Wirecard Forces German Accounting Regs Reboot; Consumers Sour On Travel Rewards Cards
June 29, 2020  |  News

In today’s top news, Germany’s deputy finance minister wants to restructure accounting firm regulations, and consumers are turning away from travel rewards cards. Plus, the...

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Wirecard Forces ‘Radical’ Reboot Of German Accounting Regs
Wirecard Forces ‘Radical’ Reboot Of German Accounting Regs
June 28, 2020  |  Bank Regulation

As the fallout from Wirecard’s troubles unfold, Germany’s deputy finance minister has called for radical solutions to fix how accounting firms are regulated, the Financial...

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Wirecard Says Payouts To Merchants Will Continue Uninterrupted
Wirecard Says Payouts To Merchants Will Continue Uninterrupted
June 28, 2020  |  Digital Payments

Wirecard AG, the disgraced German payments provider that filed for insolvency last week over a $2.1 billion accounting scandal, told customers it’s business as usual...

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European Union To Investigate German Regulator Over Wirecard
European Union To Investigate German Regulator Over Wirecard
June 26, 2020  |  Cybersecurity

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...

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EY Says Wirecard Gave False Statements During 2019 Audit
EY Says Wirecard Gave False Statements During 2019 Audit
June 26, 2020  |  Cybersecurity

According to auditor Ernst & Young (EY), German payment processor Wirecard knowingly gave false statements and was in the midst of “elaborate and sophisticated fraud...

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