MANILA (REUTERS) - None of the US$2.1 billion (S$2.93 billion) missing from scandal-hit German payments firm Wirecard appears to have entered the Philippine financial system, the central bank said on Sunday (June 21).. Read more at straitstimes.com.
MANILA - None of the US$2.1 billion missing from scandal-hit German payments firm Wirecard appears to have entered the Philippine financial system, the central bank said on Sunday .
The chief executive of Wirecard, Markus Braun, who built the company into one of the hottest financial technology investments in Europe and a rare tech champion for Germany, quit on Friday as the company faces a cash crunch after saying it may have been the victim of fraud. "The initial report is that no money entered the Philippines and that there is no loss to both banks," Diokno said, though he added that the central bank was investigating.
BDO and BPI have stated that Wirecard was not their client and that they had no business relationship with the German firm, Diokno said.
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