Monthly Archives: May 2020

Wirecard postpones presentation of annual results again

Wirecard postpones presentation of annual results again

The German public-listed FinTech Wirecard has postponed the presentation of its 2019 annual results for the third time this year. Allegedly, the company’s auditor EY needs more time to finish its work, the company said in a statement last night.

Wirecard Troubles in Germany – Class actions against the company and auditor EY adding to BaFin investigations

Wirecard Troubles in Germany – Class actions against the company and auditor EY adding to BaFin investigations

Not surprisingly, the turbulent times do not seem to be coming to an end soon for Wirecard. Already 2019 was dominated by accusations of balance sheet manipulation, shabby business practices, and compliance issues which were raised primarily by the Financial Times. Founder and CEO Markus Braun has always strictly rejected the accusations. Wirecard filed lawsuits and criminal complaints against the critics.

Compliance violations make Wirecard liable for injured investors says expert

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.

Wirecard drama continues – what about the pink elephant called money-laundering for big illegal organizations?

Wirecard drama continues – what about the pink elephant called money-laundering for big illegal organizations?

With the KPMG special audit report on the table Wirecard still pretends to believe that the accusations of balance sheet manipulation, irregularities in accounting, kick-back payments, and lack of transparency raised from many sides have been refuted or at least not been confirmed. The accusations of money-laundering in the context of client relationships with cybercrime organizations and scam operators are not dealt with at all. Admittedly, the scope of the special audit of KPMG did not include this pink elephant in the room.