Scandal-plagued German FinTech pioneer Wirecard counted among its payments processing clients an online casino that laundered money for an arm of “one of Europe’s most dangerous mafia organizations,” the Financial Times reported on Monday (August 3). The paper cited documents and “Italian legal sources” in...
SoftBank Group Corp., the Tokyo-based multinational conglomerate that owns stakes in technology and finance companies, invested $1 billion in Wirecard AG last year in a move that quieted questions about the German payment processing firm. Today, Wirecard is fighting to survive as German prosecutors allege that the company’s inflated...
For the second time in four days, a high-ranking German regulator has called for major changes in response to the Wirecard scandal. In the latest development, Bundesbank President Jens Weidmann said in an interview published by newspapers that are part of the Funke media organization...
Wirecard AG’s accounting firm said an independent report failed to account for half of the German payment company’s revenue and all its operating profit, the Financial Times (FT) reported. Ernst & Young, the global professional services firm based in London, warned Wirecard that KPMG’s special...
September 16, 2019
Perhaps everyone’s worst nightmare came true for 250,000 employees of 4,000-5,000 small businesses over Labor Day weekend: Payday came, and paychecks didn’t. In fact, it was much worse. In some cases, the direct deposits appeared briefly in employee bank accounts before being abruptly pulled — as many as three times as the platform responsible for making […]
March 29, 2019
Pushed? Jumped ? The speculation begins and runs rampant as Timothy Sloan steps down from Wells Fargo’s helm – and yes, shares popped. In the meantime, the bank still will...
December 03, 2018
Almost five years ago (on Dec. 19, 2013), Target was breached. Roughly 40 million consumer credit cards were hacked, and the public outcry of shock was massive. People could not...
October 08, 2018
Sure, the continuing-to-unfold scandal at Danske Bank has been shocking. However, as Akli Adjaoute, founder and CEO of Brighterion, tells Karen Webster, it’s not really surprising. The reality, he says,...
December 19, 2022
A defendant and key witness in the Wirecard scandal trial has admitted guilt. Oliver Bellenhaus, the former head of Wirecard’s Dubai office and one of three defendants in one of Germany’s most high-profile fraud trials ever, admitted guilt on Monday (Dec. 19) but painted former CEO Markus Braun as the mastermind behind the crimes. These […]
August 03, 2020
Scandal-plagued German FinTech pioneer Wirecard counted among its payments processing clients an online casino that laundered money for an arm of “one of Europe’s most dangerous mafia organizations,” the Financial...
July 29, 2020
SoftBank Group Corp., the Tokyo-based multinational conglomerate that owns stakes in technology and finance companies, invested $1 billion in Wirecard AG last year in a move that quieted questions about the German payment processing...
July 27, 2020
For the second time in four days, a high-ranking German regulator has called for major changes in response to the Wirecard scandal. In the latest development, Bundesbank President Jens Weidmann...
