scandal

Audit Standards On Hot Seat In Wake Of Wirecard Scandal
Audit Standards On Hot Seat In Wake Of Wirecard Scandal
July 02, 2020  |  Security & Fraud

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...

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Wirecard Saga Reignites Debate Over Auditors’ Role In Combatting Fraud
Wirecard Saga Reignites Debate Over Auditors’ Role In Combatting Fraud
July 02, 2020  |  B2B Payments

As the fallout from Wirecard‘s $2 billion accounting scandal continues, some attention has turned to the Germany-based payment company’s auditor, Ernst & Young (EY). A...

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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  |  Security & Fraud

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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Former Wirecard Execs Face Criminal Charges In Austria
Former Wirecard Execs Face Criminal Charges In Austria
June 30, 2020  |  Security & Fraud

The Wirecard AG accounting scandal has extended its reach to Austria. A criminal complaint has been filed in a Vienna court against Wirecard’s former CEO...

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EY Accused Of Missing Alleged Wirecard Fraud
EY Accused Of Missing Alleged Wirecard Fraud
June 28, 2020  |  Security & Fraud

In the ongoing scandal of Wirecard, under fire for fraud, the focus is now turning to auditors Ernst & Young (EY), which reportedly failed to...

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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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EY Says Wirecard Gave False Statements During 2019 Audit
EY Says Wirecard Gave False Statements During 2019 Audit
June 26, 2020  |  Security & Fraud

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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SoftBank Faces Scrutiny For $1B Investment In Wirecard
SoftBank Faces Scrutiny For $1B Investment In Wirecard
June 24, 2020  |  Security & Fraud

As the Wirecard scandal unfolds, SoftBank Group Corp. is facing questions about its investment in the embattled German payment services provider, CNBC reported. Last year, the Tokyo-based global...

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German Finance Minister Calls For Regulatory Reform Amid Wirecard Scandal
German Finance Minister Calls For Regulatory Reform Amid Wirecard Scandal
June 23, 2020  |  Regulation

Hours after Wirecard AG’s former CEO was arrested, German Finance Minister Olaf Scholz said lawmakers must tighten regulations because the payment services company has embarrassed...

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