"Our priority is, and will always be, maintaining the integrity of the Visa payments system and protecting the interests of consumers, merchants and our clients. The payments processor, Wirecard said it is in "constructive discussions" with lenders about continued access to credit and that it was working with investment bank Houlihan Lokey in "assessing options for a sustainable financing strategy." Einen separaten RSS-Feed bieten wir nicht an. Wirecard's entire board of management has also been terminated. Factset: FactSet Research Systems Inc.2018. Administrators for scandal-hit payments firm Wirecard said on Tuesday that the insolvent company would lay off more than half its remaining German staff. McCrum and Murphy revealed a very different business, built upon a network of fraudulent activity, including inflating sales, deals with money launderers, and misleading its auditor about 1.9B Euros that went “missing,” according to the company.Throughout their investigation, the journalists faced retaliation from Wirecard, including hacking, a sting operation, and a criminal complaint filed in German court. "Our priority is ensuring people are able to continue to use their cards. Morningstar: Copyright 2018 Morningstar, Inc. All Rights Reserved. "The economic situation of Wirecard was and is extremely difficult in light of the lack of liquidity and the well-known scandalous circumstances," the "The usual restructuring and cost-adjustment measures are not sufficient," he added. He previously founded the FT’s influential financial blog, FT Alphaville. The FCA said any customers who were still experiencing difficulties in using their card should contact their card provider directly. Mastercard and Visa are reconsidering whether to allow Wirecard to continue processing payments on their networks, following the fintech company's massive accounting scandal, according to a … Apart from any fair dealing for the purpose of private study or research, no "We continue to closely monitor developments and assess new information as it becomes available," a Visa spokesperson said in an emailed statement. We will continue to work with all parties and stand ready to take any necessary action," Mastercard said. The lost funds represent roughly a quarter of Wirecard's balance sheet.Shares of Wirecard crashed about 45% shortly after the opening bell. In addition to the Wirecard investigation, Murphy has overseen investigations into The Presidents Club and the downfall of WPP’s Martin Sorrell. Find out what's happening in the world as it unfolds. But in recent days, Wirecard has been plagued by a scandal over accounting irregularities that have drawn comparisons to Wirecard's CEO Markus Braun resigned last week after an auditor discovered that Braun, who helped grow Wirecard into one of Germany's biggest companies, The company is now in crisis, one that would be worsened if major payment networks were to revoke its access.Since last week, Wirecard's share value plummeted more than 96%. Wirecard ist seit 2005 börsennotiert und wurde 2006 in den TecDax aufgenommen. Your opinions are important to us. "Both BDO and BPI said that rogue employees falsified documents to indicate the existence of the funds. McCrum and Murphy’s reports eventually led to the insolvency of the company.McCrum has been with the FT for 13 years, helping expose accounting problems and fraud at several companies. When contacted by CNBC Monday, a spokesperson for Wirecard said it was "currently not making any further statements. European Union officials have suggested that there will be changes in the supervision of fintech firms in the wake of the £1.8bn accounting scandal at German payments firm Wirecard. Your email address is used Phys.org internet news portal provides the latest news on scienceMedical Xpress covers all medical research advances and health news Science X Network offers the most comprehensive sci-tech news coverage on the web Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. This site uses cookies to assist with navigation, analyse your use of our services, and provide content from third parties.


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