Wirecard’s €1.9bn hole deepens after forgery claim. Philippine banks say German payments firm isn’t a client. Shares plummet for a second day, falling as much as 25% below €20.

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Naive question: is it normal for Western companies to hold large deposits in the Philippines? It seems like it would be a red flag just by itself. What competitive advantage could banks like these be offering other than weaker fraud protections? Now I’m wondering what other companies are claiming to hold large deposits in weird banks you’ve never heard of.

TheyBiteMeGiants

So your bank has such terrible controls that one person could fake 2 billion? That’s not exactly comforting.

robertito42

Fintech Forged documents lol

heliogt2

“Güh” -wirecard ceo, probably

jpCharlebois

So, in how many days should I start buying stocks?

markusvirma12