How Wirecard Concealed Its €1.9 Billion Plothole

June 19, 2020 3 min read

Good luck squeezing out of this one. Wirecard, the major German payment processing company, has shown in an audit that its books are missing around €1.9 billion in cash. It turns out, as per external reviews, that this cash never actually existed at all. This time isn’t the first that Wirecard has run afoul of auditors. Let’s step back a few years to discover where Wirecard came from, how it functions today, and how it ended up in such a mess. Wirecard, founded in 1999 during the dot com boom, is one of the few surviving companies born in that…...

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Bradley Stone Bradley Stone is a content management specialist and professional writer with a focus on building the presence of clients online. Previously a teacher in Thailand and online, he has recently shifted focus toward collaboration with influencers and academics primarily in the fintech and economics fields. Bradley is currently a writer and content manager with Alpha Trades, LLC. He has lived and traveled extensively throughout Asia, North and South America, balancing his thirst for adventure with a keen interest in emerging economic and social trends. Bradley holds a Bachelor’s degree from Appalachian State University. He can be reached at [email protected]

Ray Buckton Ray Buckton is an investor and financial services industry professional with a focus on emerging fintech and digital asset management. His primary interest is emerging financial technologies and their potential applications. He also builds and delivers educational material for fintech ranging from intro-level courses to C-suite overviews and consultation. When not spending time with his wife and daughter, Ray bridges the existing financial industry and cutting edge tech stacks using articles, courses, and individual consultations.