The Wirecard scandal (German: Wirecard-Skandal) was a series of corrupt business practices and fraudulent financial reporting that led to the insolvency of Wirecard, a payment processor and financial services provider, headquartered in Munich, …

Fabio de Masi and Florian Toncar of the Bundestag commission investigating the Wirecard scandal prepare to depart a press conference as a police... In this illustration, a Wirecard Financial services company logo seen displayed on a smartphone and a pc screen.

Wirecard was original because it combined accounting fraud with money laundering on an epic scale, meaning it simultaneously hid revenue and embezzled cash while also inflating other sources of earnings. No other major scandal has combined these two elements.

Jun 27, 2020 · Wirecard (WCAGY) received cover from the country’s banking regulator, which pushed back forcefully against critical hedge funds and investigative reporters, but failed to spot anything amiss at...

Feb 7, 2019 · On May 4 R&T submitted a preliminary report, running to 30 pages of bombshell allegations: evidence in the documents of “forgery and/or of falsification of accounts”, as well as reasons to suspect...

Dec 8, 2022 · Wirecard deflected accusations by investors and journalists, and the German financial authorities backed them up. FT journalist Dan McCrum was targeted by the company for writing pieces about it.

Jul 1, 2020 · In less than a fortnight, Wirecard (Ger:WDI) has gone from one of Europe’s most hyped financial technology firms to insolvency, all-but extinguishing the value of a company that was worth almost €20bn (£18bn) as recently as April.

Jun 29, 2020 · The payments firm Wirecard has been embroiled in a scandal that involves a missing €1.7bn, an arrest and auditor EY. In this article, we explain the Wirecard scandal including what happened, who is involved and what may happen next.

Key stories to deepen your understanding on the scandal: Find out what KPMG found in their special audit of Wirecard; See FT’s full timeline of Wirecard from when it was founded to when it...

Here are key things to know about the scandal, which has drawn comparisons with the massive accounting fraud that brought down US energy giant Enron in the early 2000s. Porn and gambling. Founded...