SINGAPORE: The police confirmed on Friday (Feb 8) that it has raided the Singapore premises of German payments processing company Wirecard, which has been in the spotlight following a series of reports by the Financial Times newspaper alleging financial wrongdoing.
"Police confirm that we have raided the premises of the Wirecard entities in Singapore," they said in response to queries from Channel NewsAsia.
AdvertisementAccording to its website, Wirecard provides online payment solutions and end-to-end services for merchants, airlines and travel operators, banks, telecom operators and service providers.
Some of its partners include Alipay, American Express, UnionPay, Visa, Mastercard, ComfortDelGro, EZ-Link, Cheers and Singtel's digital wallet Dash.
Financial Times reported last week it had seen documents from lawyers commissioned by Wirecard, showing they had found evidence of "serious offences of forgery and/or of falsification of accounts/documents" at the group's Singapore office.
The Singapore Police Force said on Monday that it was looking into the matter.
AdvertisementAdvertisementWirecard told Reuters that it had met the authorities in Singapore and pledged its cooperation.
"We actively approached the authorities yesterday and pledged our full cooperation in the investigation activities," the company said in statement.
Wirecard said earlier it would sue the Financial Times over the publication of three reports alleging fraud and creative accounting at its Singapore office, calling them defamatory and harmful to the reputations of people named in them.
The latest, published online on Thursday, alleged that Wirecard staffers had engaged in the "round-tripping" of funds to inflate reported revenues, and that managers from its Munich head office had been aware of the practice.
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