Wirecard officially winds down its UK-regulated business

admin - March 22, 2022
Posted in Uncategorized

Wirecard officially winds down its UK-regulated business

Following the collapse of Wirecard in June, the German FinTech giant is now officially winding down its regulated services in the UK.

Wirecard: how did it lose track of €1.9bn?


Subscribe ► https://www.youtube.com/IGUnitedKingdom?sub_confirmation=1

The German payments company Wirecard has attracted a lot of unwanted attention over the last two years. Wild swings in its share price, the news that it mislaid €1.9bn, the loss and subsequent arrest of the company’s chief executive and now the news that it has gone into administration.

In this episode, IGTV’s Jeremy Naylor talks to IG journalist Joshua Warner about the company and how it ended up where it is. Any opinions, news, research, analysis or other information does not constitute investment or trading advice.

Learn more about Wirecard’s share price: https://www.ig.com/uk/news-and-trade-ideas/wirecard-share-price-soared-200–despite-ongoing-troubles-200630?CHID=9 &SM=YT

Twitter: https://twitter.com/IGcom
Facebook: https://www.facebook.com/IGcom
LinkedIn: https://www.linkedin.com/company/igcom
#wirecard #shareprice #wirecardscandal

Chapters:
00:00 – Intro
00:30 – What is Wirecard?
01:00 – The history of Wirecard
02:50 – How did Wirecard lose track of €1.9bn?
04:10 – Why are Wirecard’s shares still trading?
05:10 – Trading strategies
05:45 – Risk management

We provide fast and flexible access to over 16,000 financial markets – including indices, shares, forex and commodities – through our award-winning range of platforms and apps.

Established in 1974 as the world’s first financial spread betting firm, we’re now the world’s No.1 provider of CFDs and spread betting* and a global leader in forex. We also offer an execution-only share dealing service in the UK, Ireland, Germany, Austria and the Netherlands. Our range of affordable, fully managed investment portfolios rounds out our comprehensive offering to investors and active traders.

Through our low fees and smart price-sourcing technology, we help traders keep their costs down.

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading spread bets and CFDs with this provider†. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit.

* Based on revenue excluding FX (published financial statements, February 2018).

† For the 12 months preceding 1 April 2020.

Wirecard and the Curious Case of the Missing $2 Billion | WSJ


Payment processing company Wirecard was the darling of Germany’s fintech industry until auditors uncovered a $2 billion hole in its accounting. WSJ explains what we know about the missing money, as investigators are still trying to understand what happened. Photo composite: George Downs

More from the Wall Street Journal:
Visit WSJ.com: http://www.wsj.com
Visit the WSJ Video Center: https://wsj.com/video

On Facebook: https://www.facebook.com/pg/wsj/videos/
On Twitter: https://twitter.com/WSJ
On Snapchat: https://on.wsj.com/2ratjSM

#WSJ #Wirecard #TwoBillion

���� Wirecard Fraud Explained! What went WRONG!


Wirecard collapse was a failure by management, auditors and government. In this video we examine this unique case and likely effect on Ernst & Young in the aftermath.

Link to interesting video on Wirecard by FT reporter Dan McCrum:
https://www.youtube.com/watch?v=u-8-QbDpqqw

Free Download of My Balance Sheet Metrics Cheat Sheet:
https://thefincontroller.com/p/the-fin-controller-1
————————————-
Get 30% off ($17) MY ONLINE COURSE ON FINANCIAL METRICS ��
https://thefincontroller.com/p/learn-financial-metrics-kpis
Use Coupon Code: FC30OFF
————————————
ENJOY 2 FREE MONTHS OF SKILLSHARE
��https://www.skillshare.com/r/profile/Bill-Hanna/7521537

————————————–
Hang Out with me on social media:
JOIN MY FACEBOOK GROUP HERE:
����‍♂️https://www.facebook.com/groups/780732429036886/?source_id=101273467885666

FOLLOW ME ON INSTAGRAM:
�� https://www.instagram.com/the_financial_controller/

Wirecard scandal: How fraudsters built a financial giant | DW News


To the outside world, Wirecard was a successful DAX group. But in reality, it was riddled with fraud. Behind a clean facade, criminals were at work. Former CEO Markus Braun is currently in custody. Ex-Asia board member Jan Marsalek is a fugitive.

Wirecard was once an electronics payments service provider and even operated a bank in Germany. But it turns out some sales were completely made up. The balance sheet showed a 1-point-9 Bbillion euro hole. Since then, public prosecutors began investigating the company on commercial fraud and document falsification charges.

There had been rumors for years. Media outlets repeatedly reported inconsistencies.. But, each year the EY auditing firm gave Wirecare a seal of approval. The German Financial regulator Bafin didnt investigate the allegations either. Journalists who reported on fraudulent dealings at Wirecard received complaints.

Since October, a parliamentary investigative committee has been scrutinizing the role of the authorities in this scandal. But one thing is certain: Germany’s financial supervisors are ready for reforms.

Subscribe: https://www.youtube.com/user/deutschewelleenglish?sub_confirmation=1

For more news go to: http://www.dw.com/en/
Follow DW on social media:
►Facebook: https://www.facebook.com/deutschewellenews/
►Twitter: https://twitter.com/dwnews
►Instagram: https://www.instagram.com/dwnews
Für Videos in deutscher Sprache besuchen Sie: https://www.youtube.com/dwdeutsch

#Wirecard #Germany #FinTech