Featured Germany

Wirecard: Gardaí investigate alleged €400m fraud at Irish arm

Gardaí are investigating an alleged €400 million fraud at electronic payments company Wirecard’s Irish arm, the High Court heard on Monday. The firm, which has its headquarters in Germany, reported in June that €1.9 billion was missing from its accounts, prompting an inquiry that led to the arrest… Read More

Deutsche Bank Accounting Head Probed Over EY Wirecard Audit

Deutsche Bank AG’s top accounting executive, Andreas Loetscher, is being investigated over his role as the auditor of Wirecard AG while he was with his former firm, Ernst & Young, two people familiar with the matter said. Germany’s accounting regulator, APAS, is… Read More

Russia stops U.N. blacklisting of Libya militia, leader

Russia on Friday stopped a U.N. Security Council committee from blacklisting a Libyan militia group and its leader for human rights abuses because it said it wanted to see more evidence first that they had killed civilians. The United States and Germany proposed that the council’s… Read More
23rd November 2020
The arrest of three men this week in connection with last year’s €1bn (£892m) jewel heist at Dresden’s famous Green Vault museum has shone a rare light on the “Arab clans” who increasingly dominate organised crime in Berlin. The arrested men are all members of the Remmo Clan, a single… Read More
19th November 2020
UNITED NATIONS (Reuters) – Germany accused Russia and China on Tuesday of preventing a United Nations Security Council committee from determining whether North Korea has breached a U.N. cap on refined petroleum imports by the isolated Asian state. The Security Council has ratcheted up sanctions on North Korea since 2006… Read More
16th November 2020
A prominent anti-corruption campaign group is calling on the government to ban EY from bidding on public contracts for three years, accusing the big four accounting and consultancy group of “recurring professional misconduct”. Spotlight on Corruption has written to the Crown Procurement Service asking it to examine if business… Read More
12th November 2020
The U.S. is drawing up additional sanctions on the Nord Stream 2 natural gas pipeline project, the latest obstacle in the path of the 9.5 billion-euro ($11.2 billion) Russia-to-Germany link that’s been halted almost a year. House and Senate negotiators agreed to target insurers and technical certification companies working on… Read More
11th November 2020
On a cool Saturday evening in March, Jan Marsalek headed across Munich for dinner at the home of a friend. It was a welcome respite for the chief operating officer of German payment processor Wirecard AG, as the previous few weeks had been particularly exacting. Allegations of accounting fraud… Read More
9th November 2020
The Philippines is examining financial transactions of a law office and a tour operator that “appeared to have acted for” Wirecard AG or the company’s former chief operating officer Jan Marsalek, Justice Secretary Menardo Guevarra said. The National Bureau of Investigation has submitted a progress report on its probe… Read More
5th November 2020
Germany’s financial establishment came under pressure yesterday after its handling of the collapse of Wirecard, the digital payments company, was strongly criticised by Europe’s markets watchdog. Bafin, the German regulator, faces questions about its competence and probity after the European Securities and Markets Authority said that it was deficient… Read More
2nd November 2020
The EU has now imposed its first cyber sanctions regime targeting Russian, North Korean and Chinese actors deemed responsible for cyber attacks against EU member states. In recent months, the US has also pursued similar sanctions and indictments against Russian, North Korean and Chinese actors. Indeed,… Read More
26th October 2020
A global dirty money watchdog on Friday agreed to revamp its standards to beef up monitoring of financing aimed at evading U.S. and United Nations sanctions and proliferating weapons of mass destruction, the U.S. Treasury Department said. Endorsement of the new standards by the Financial Action Task Force (FATF) at… Read More
23rd October 2020
The European Union imposed sanctions on the head of Russia’s military intelligence, Igor Kostyukov, and another Russian on Thursday, accusing them of stealing Angela Merkel’s emails in a 2015 hacking attack on the German parliament. Russia in May denied the accusations as a “hackneyed story” and said the EU lacked… Read More