The Wirecard scandal – how digitalisation can be marshalled to tackle money launderers

Von |2020-07-23T10:21:29+02:00Juli 23rd, 2020|Clipping Customer, Clipping hawk:AI GmbH|

HAWK:AI | THE PAYPERS As a financial institution, Wirecard Bank, at a minimum, was obligated to prevent money laundering as stipulated by the Money Laundering Act and the German Banking Act. This means that every acceptance of a customer must be subjected to an audit, as well as their financial transactions. Now, the suspicion that Wirecard processed payment transactions on behalf of customers who may have been engaged in criminal business has entered the picture. Consequently, by serving this group of customers, Wirecard may have violated the laws on money laundering prevention.