Wirecard Whistle-Blower Tipped German Watchdog in Early 2019
- But probe didn’t lead to enforcement until over a year later
- BaFin head is scheduled to brief a parliament committee July 1
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Germany’s financial watchdog took more than a year to report Wirecard AG for suspected market manipulation after receiving a tip-off from a whistle-blower about irregularities at the payments company.
BaFin received documents on Wirecard from an anonymous source in late January 2019 and evaluated them along with a Financial Times report on alleged accounting issues at the company, Germany’s Finance Ministry said in a written response to questions from lawmakers.