As Wirecard Gets Bigger, So Does the Target on Its Back
- Digital payments company pushes back on latest allegations
- Wirecard’s complex, anti-cash model opens it to criticism
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Wirecard AG rose from obscurity to the ranks of Germany’s corporate elite in two decades and is now learning the risks of being a big target.
The digital payments company -- which supplanted 149-year-old Commerzbank AG in Germany’s benchmark DAX index last year -- has been rocked by allegations of executive fraud. German financial regulator BaFin said Thursday it will look into the issue for signs of possible market manipulation.