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Posts published in “Wirecard”

The Wirecard Conspiracy – About short-sellers, fanboys, and vanishing companies

The German Wirecard is something like the drama queen in the international FinTech scene. True to the company slogan "beyond payments", Markus Braun's DAX-listed company reliably delivers spectacular headlines. Most of them are currently negative and are either related to accusations of balance sheet manipulation, compliance problems, or short-sellers. The KPMG audit report presented at the end of April 2020 has caused the Wirecard drama to escalate, again. Since then, the share price has plunged from almost €139 to just under €76. And the drama is far from over, it seems.

Wirecard – Powerful Chief Compliance Officer appointed following KPMG Report

Following the KPMG special audit report that uncovered substantial issues with the company's compliance procedures, the DAX-listed German FinTech Wirecard decided to reinforce its compliance. According to last Friday's announcement, a Chief Compliance Officer will be installed as a board position. The 49-year-old American James Freis has been appointed to take on the role and will also join Wirecard's board as of July 1, 2020.

Compliance violations make Wirecard liable for injured investors says expert

In our European edition of FinTelegram News, today published a further analysis of the results of the KPMG special audit report. It is currently no longer a secret in the Fintech and financial scene that Wirecard, which is listed on the German DAX, has a serious problem with the not even very critical KPMG report. From the point of view of our FinTelegram Research Team as well as from the point of view of the investor protectors of the European Funds Recovery Initiative (EFRI), it is clear on the basis of the findings of the KPMG report that Wirecard has not properly fulfilled its KYC/AML obligations.

German Handelsblatt published a new report on Wirecard and the EFRI money-laundering complaint

Felix Holtermann and Christian Schnell of the German Handelsblatt reported on the money-laundering report filed against Wirecard by the European Funds Recovery Initiative (EFRI). In a detailed article titled "The past catches up with Wirecard" the background of the global scam industry and the respective involvement of payment processors is explained.

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