Wirecard 2020: The 1.9 Billion Euro Fraud That Fooled Auditors and Silenced Journalists

Описание: In June 2020, Germany's most celebrated fintech company disclosed that 1.9 billion euros it had recorded on its balance sheet, money supposedly sitting in trustee accounts in the Philippines, simply did not exist. The auditor that had signed off on the accounts for years had never independently confirmed the balances with the banks that supposedly held them. And when journalists tried to expose the fraud, Germany's financial regulator filed a criminal complaint against the reporters rather than the company. This is the story of how Wirecard deceived regulators, auditors, and markets for years, and what that means for how financial oversight actually works.

In this video:
• A German Tech Champion Rises
• The Architecture of the Fraud
• The Financial Times Investigates
• The Regulator Turned on the Reporters
• Short Sellers in the Crosshairs
• EY's Decade of Missed Signals
• KPMG Cannot Find the Money
• The Philippine Banks Say No
• Collapse and Arrest
• The Aftermath and Regulatory Reform
• Why the Structure Worked So Long
• What This Means for You Today

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Educational only, not financial advice. Sources are cited in the video.

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