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Singapore authorities are investigating Wirecard after the Financial Times published investigations revealing potentially fraudulent cash flows and allegations of falsification of accounts within the fintech group.
"The police are studying the issue," the Singapore police said Monday in a statement.
The Financial Times announced last week that a senior Wirecard executive was suspected in an internal presentation of using falsified and backdated contracts in a series of suspicious transactions that would raise questions about the integrity of the fintech group's accounting, with 20 billion euros.
The Financial Times also revealed that an outside law firm mandated by Wirecard to investigate the Singapore payment company's office had found evidence indicating "serious falsification and / or falsification of accounts, "according to a preliminary report on the survey examined by the Financial Times.
Wirecard denied any wrongdoing. He stated that he takes all of his compliance and regulatory obligations very seriously, that he has "rigorous internal and external audits" and that any concerns "are still being addressed." A thorough and appropriate investigation ".
The Financial Technology Group did not immediately respond to requests for comment on the police statement.
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