How was the huge financial accounting fraud of German payment companies discovered?

This year, Germany's electronic payment giants may be in a bad situation this year. German electronic payment giant Wirecard is suspected of financial fraud this year. It involves well-known investment banks, funds and even German politics. The incident was discovered in June this year. So, how was the huge financial false account discovered? In June this year, the audited German electronic payment Wirecard was found to have a cash balance of 654.38+09 billion euros (about 654.38+05.7 billion yuan). In the end, the German electronic payment giant Wirecard admitted that 654.38+09 billion euros did not exist.

What is even more incredible is that some senior executives of the company quickly fled and disappeared, and some former senior executives quietly passed away. So, what are these huge finances? Black hole? How is it whitewashed? The fact-finding of this incident may take several months. The German Stock Exchange plans to remove Wirecard, a payment company caught in a financial fraud scandal, from the German blue chip index (DAX30) later this month. The new components of DAX index will be announced at 20: 00 GMT on August 19. And it came into effect after the closing of the German stock market.

The listing of new constituent stocks also announced the end of Wirecard on the last day of DAX index. It's also because of this. The Wirecard myth of the future star of German financial technology is coming to an end. It has also become a stain that German financial supervision cannot erase. Not only that, but as the event continues to ferment. But also cast a shadow over the current German Finance Minister Scholz.

Looking back on the glorious history of Wirecard, the company was founded in 1999, and launched the Internet payment service at the end of 2006, allowing users to open accounts by registering Wirecard accounts online. Even once replaced the German commercial bank and joined the German DAX30 index. It can be said that the future is bright. However, all this glory ended in an instant.