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Wirecard’s Demise can be predicted by Surveillance Tools

A 33-year old Indonesian accountant operated a firm in Singapore and had notable clients like Wirecard. He managed only a handful of employees but To know the answer of the question read the blog at https://bit.ly/2KNWkTe

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Wirecard’s Demise can be predicted by Surveillance Tools

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  1. SHIELD FC COULD SURVEILLANCE TOOLS HAVE PREDICTED WIRECARD’S DEMISE? Wirecard AG was a German FinTech darling innovating financial payment and processing along with related services. The keyword here is “was,” as in past-tense and no longer “is.” In September 2018, their valuation approached €25 Billion. Less than 18 months later, they lost 98% of their value and are now defunct. According to Bloomberg and numerous reputable media sources, Wirecard is under investigation for insider trading and other nefarious acts of fiscal regulatory non-compliance. And it’s unclear how many others have profited by placing short positions to bet against the stock. On June 10, 2020, eight days before Wirecard’s stock crashed, an anonymous tipster posted in an online forum that an EY auditor couldn’t account for missing funds; more specifically, missing billions. There are always Signs eComms monitoring solutions are necessary to interpret nuance, emojis and the like from conversations, but close scrutiny by watchdogs also proves to be effective. In essence, that’s what Compliance Officers do. However, at least in the case of Wirecard, a savvy blogger has been hot on the tail of the fraudsters – back since 2008 when the company launched. The Financial Times reported an elaborate “book-cooking scheme” of an Asian-Pacific accounting firm with Wirecard as one of its clients back in February 2019. After the whistle-blowers went public, the Singapore Police raided Wirecard’s local office. The German Minister of Finance sounded the alarm to the German Chancellery in August 2019 but it’s unclear if or how that warning was acted upon. Apparently, we’re not the only ones asking this question as The Grand Coalition is now actively in pursuit of the truth. For more details visit this link - https://www.shieldfc.com/resources/blog/could-surveillance- tools-have-predicted-wirecards-demise/ SOURCE: HTTPS://WWW.SHIELDFC.COM

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