Wirecard scandal casts a shadow on governance


The Wirecard logo is seen at the payment company’s headquarters in Aschheim near Munich, southern Germany, on June 24, 2020.

Christof Stache | AFP via Getty Images

Wirecard’s dramatic fall from grace has thrust corporate governance and industry regulation in Germany firmly in the spotlight.

The Munich-based payments processor filed for insolvency on Thursday, reportedly owing creditors 3.5 billion euros ($3.9 billion). The company’s collapse follows a series of investigative reports from the Financial Times into claims about accounting irregularities.

The revelation last week that 1.9 billion euros had disappeared from Wirecard’s balance sheet has seen the firm’s share price collapse 98% and…


Hong Kong’s office market is under pressure: Colliers International

Previous article

U2 band members invest in Irish tech fund hoping to raise $112 million

Next article

You may also like

Leave a Reply

Notify of

More in Finance