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  • BaFin issued a cease-and-desist order against a dissolved laundromat

    BaFin issued a cease-and-desist order against a dissolved laundromat

    Many German companies are acting as unauthorized payment processors for scammers. The law calls it money laundering. Lipans Smart Consult GmbH was one of those laundromats. BaFin issued a Cease-and-Desist Order but the company has already been dissolved months ago.

     
  • Wirecard or why compliance is important

    Following the KPMG special audit report that uncovered substantial issues with the company's compliance procedures, the DAX-listed German FinTech Wirecard has announced to create a dedicated compliance department to monitor compliance with laws and regulations. The department is becoming a board department, which emphasises the importance of the issue.