Edition 5 – Wirecard fraud demystified

Who is wirecard? Wirecard AG is an insolvent German payment processor and financial services provider at the centre of a recent financial scandal in Germany. The company offers its customers electronic payment transaction services and risk management, as well as the issuing and processing of physical cards. Why does it matter? To give you a better sense of the sheer size and scale of the company, its shares in 2018 had hit a peak of Euro191, valuing it at more than Euro24bn after which it went on to replace Commerzbank in the prestigious Dax 30 German index.