Dozens of corporate failures, hundreds of job losses and significant reductions in tax payments are predicted. FMTNews
LONDON: Britain’s Financial Conduct Authority said on Monday that Wirecard was addressing its concerns but restrictions on the collapsed German payments company’s services would remain in place for now.
Wirecard said on Saturday it would proceed with business activities after filing for insolvency and an administrator was appointed on Monday. Firms providing finance to poorer and vulnerable Britons who have difficulty accessing mainstream banking are among those hit, including Pockit and U Account, part of subprime lender Morses Club.
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