• Ex-Wirecard executive was reportedly an Austrian spy informant

    Ex-Wirecard executive was reportedly an Austrian spy informant

    An ex-Wirecard executive who went on the lam amid the German payment firm’s $2 billion accounting scandal was reportedly a mole for Austrian spies. German authorities have evidence that Jan
  • Digitization of payments and equilibrium of the monetary system

    Digitization of payments and equilibrium of the monetary system

    The appearance of crypto-assets and the digitization of payments are confusing the cards of the classic distribution between central bank money and commercial money. Article published as part of Printemps de l'Economie, of which La Tribune is a partner. The author, Nathalie Aufauvre, is Director General of Financial Stability and Operations at the Banque de France.
  • Wirecard files for insolvency owing $4 billion

    Wirecard files for insolvency owing $4 billion

    Wirecard collapsed on Thursday owing creditors almost $4 billion after disclosing a gaping hole in its books that its auditor EY said was the result of a sophisticated global fraud. The payments company filed for insolvency at a Munich court saying that, with 1.3 billion euros ($1.5 billion) of loans due within a week, its …
  • Ex-Wirecard CEO Markus Braun arrested amid $2.1 billion accounting scandal

    Ex-Wirecard CEO Markus Braun arrested amid $2.1 billion accounting scandal

    German authorities arrested former Wirecard CEO Markus Braun days after he left the payments company amid a $2.1 billion accounting scandal. Munich prosecutors accused Braun of using bogus income from transactions with “third-party acquirers” to inflate Wirecard’s assets and sales volume and make it more attractive to investors. Braun turned himself in Monday evening and …
  • Wirecard says missing $2.1B likely never existed amid financial scandal

    Wirecard says missing $2.1B likely never existed amid financial scandal

    The $2.1 billion that went missing from Wirecard’s accounts likely never existed in the first place, the German payments processor said Monday as a massive financial scandal engulfed the company. Wirecard admitted last week that it couldn’t confirm the existence of some 1.9 billion euros attributed to its bank trust accounts last year. But the …
  • Wirecard CEO quits amid allegations of fraud over missing $2B

    Wirecard CEO quits amid allegations of fraud over missing $2B

    Wirecard’s chief executive quit on Friday as the German payments firm’s search for $2.1 billion of missing cash hit a dead end in the Philippines and it scrambled to secure a financial lifeline from its banks. Markus Braun, who built Wirecard into one of the hottest financial technology investments in Europe before questions over accounting …
  • Shares of German payment processor Wirecard plunge over ‘missing’ $2.1B

    Shares of German payment processor Wirecard plunge over ‘missing’ $2.1B

    Read More: Wirecard CEO quits amid allegations of fraud over missing $2B Wirecard says missing $2.1B likely never existed amid financial scandal Ex-Wirecard CEO Markus Braun arrested amid $2.1 billion accounting scandal Wirecard files for insolvency owing $4 billion
  • MoneyGram surges 31 percent on possible Western Union deal

    MoneyGram surges 31 percent on possible Western Union deal

    MoneyGram shares jumped 31 percent in afternoon trading on Tuesday, a day after reports that larger rival Western Union offered to buy the company. The deal comes as MoneyGram is about $878 million in debt, according to Bloomberg, and as traditional money-transfer companies look for ways to compensate for competition from newer outfits like PayPal. Citing …
  • Some banks won’t press on card payments for now

    Some banks won’t press on card payments for now

    If you can’t pay your credit card because you lost your job owing to the coronavirus pandemic, your card company might help. Depending on the card, the issuer might let you skip a month, waive fees or extend your credit line. Banks, the big credit card issuers, are “working to identify and assist affected clients …