News

Wirecard filed for bankruptcy after being hit with charges of large-scale accounting fraud linked to $2.1 billion in missing funds, Reuters reported. More Philippine authorities are investigating the scandal amid claims that domestic institutions may have held the German payment processor's mislaid funds, Reuters reported. More The EU intends to investigate whether Germany's banking regulator failed in its supervision of Wirecard, the Financial Times reported, citing a senior bloc official. More Switzerland's financial supervisor ordered UBS and Credit Suisse to hand over records pertaining to their respective operations in Latin America after identifying serious shortcomings in Julius Baer's AML controls...