The SWIFT/BIC code of Wirecard Bank AG is WIREDEMM.
Wirecard Bank AG is located in Aschheim, Bayern, Germany and is part of the Banks & Credit Unions Industry. The company offered electronic payment transaction services, risk management, and issued and processed physical and virtual cards.As of 2017 the company operated across all continents, was listed on the Frankfurt Stock Exchange, and was a part of the DAX stock index.. FILE PHOTO: The logo of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions, is pictured at its headquarters in … The company’s auditor Ernst & Young refused to validate its 2019 financial statements.Wirecard also has an outstanding bond valued at 500 million euros ($562 million) and a convertible bond worth 900 million euros ($1 billion).“There are clear indications that this was an elaborate and sophisticated fraud involving multiple parties around the world,” Ernst & Young said.These discussions abruptly ended when Wirecard filed for insolvency in a Munich court, surprising some of the banks.“It is frightening how long Wirecard AG was able to operate without being objected to by the auditors,” said partner Wolfgang Schirp.Ironically, the banks had granted Wirecard a short reprieve on its loans, rather than force the firm to repay the loans immediately.Wirecard’s former chief operating officer Jan Marsalek is also under investigation and currently believed to be in the Philippines,Bloomberg reported that a group of banks including Dutch lenders ABN Amro Bank NV and ING Groep NV (ING) and Germany’s Commerzbank AG had been negotiating with Wirecard regarding a 1.75 billion euro ($2 billion) credit facility that was already about 90% drawn.Now, Wirecard’s auditor Ernst & Young faces an avalanche of litigation.“The Wirecard case damages corporate Germany. eBanking By means of the eBanking system of the Wirecard Bank AG, you are able to rapidly and easily access your accounts and cards by just a few clicks. Wirecard filed for insolvency last week owing creditors almost $4 billion after disclosing a 1.9 billion euro ($2.1 billion) hole in its accounts that its auditor EY said was the result of a sophisticated global fraud.“BaFin’s approach was to go after the critics,” said Earl.
WIRE for Wirecard Bank) Two-letter country code (e.g. × Your message has been sent successfully. Add to myFT.
Wirecard AG. There are 48 companies in the Wirecard Bank AG corporate family. The SWIFT code is comprised as follows: Four-letter bank code (e.g. Deposits at the bank are insured up 19.7 million euros ($22 million) per client. We will get in touch with you as soon as possible. It should be a wake-up call for reforms,” said Volker Potthoff, chairman of corporate governance think tank ArMID.The payments company informed the court that, with 1.3 billion euros ($1.5 billion) of loans due in less than a week its survival was “not assured.”The company now is embroiled in a criminal investigation and its former Chief Executive Officer Markus Braun was arrested. “BaFin is the German voice of enforcement,” she wrote.FREP, whose stated mission is to examine the accounts of public companies to contribute to truthful and transparent accounting, said it had investigated Wirecard as fast as possible and regularly informed BaFin of progress.Following allegations of fraud in a report published in 2016, the authorities twice discussed whether to tighten supervision of Wirecard but took no action.Allegations of fraud at Wirecard had been doing the rounds for years though German prosecutors focused on investigating the investors and journalists who had highlighted irregularities rather than the company.Early last year, BaFin also asked Germany’s accounting watchdog - the privately-owned Financial Reporting Enforcement Panel (FREP) - to examine Wirecard’s accounts, but the report had yet to be delivered by the time the company collapsed.FREP, which has 14 employees to cover 550 publicly listed companies, assigned one staff member to examine Wirecard’s accounts, a person familiar with the matter told Reuters.Additional reporting by Joern Poltz in Munich, Hans Seidenstuecker in Frankfurt and Douglas Busvine in Berlin; Writing By John O'Donnell; Editing by David ClarkeMatthew Earl, who bet on a fall in Wirecard’s shares and co-authored a 2016 report that alleged fraud, criticised the response of the German authorities.