Facing Uncertainty after Wirecard Collapse: An Insider’s View on Mitigating Situation and Third-Party Necessity
Jul02

Facing Uncertainty after Wirecard Collapse: An Insider’s View on Mitigating Situation and Third-Party Necessity

Just recently, the payments market was struck by surprise, when Wirecard entered insolvency proceedings, as, upon audit, the industry-leading payment processor revealed to have a 1.9 billion dollar gap in its balance sheet. Following the developments concerning the parent company, Financial Conduct Authority (FCA) enforced its subsidiary in the UK to temporarily “cease all regulated activity” and freeze all currently held assets....

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