Business > Technology

Wirecard's Travails and Lessons for the Trade Finance Community

26 days ago   |   By Trade Finance Global

Wirecard AG filed for insolvency on June 25, 2020 due to her inability to pay creditors. Lenders are obviously not willing to increase their exposure to a company that is unable to account for about 1.9 billion euros in cash in a case of high-level accounting irregularities. Audited financial statements especially by reputable accounting firms have long been considered sacrosanct in extending credit lines but even this is proving to be unreliable. The trade finance community surely has some reflection to do.
The Wirecard Scandal
Wirecard AG is a financial technology company based in...
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