Philippine regulators are investigating Wirecard AG’s local partner businesses which could establish the full extent of the country’s exposure to one of Europe’s worst accounting scandals, the Financial Times (FT) reports.
The probe will examine Wirecard’s partners including PayEasy Solutions, Centurion Online Payment International, and ConePay International, FT reports, citing Mel Georgie Racela, executive director at the nation’s Anti-Money Laundering Council. The entities were among those identified in the FT’s report last year that appeared, on paper at least, to do substantial business with the German company.
“We have included [around five] business partners of Wirecard as persons and entities of interest,” Mr. Racela told the FT report. “We also need to dig further in on the directors and officers of these business partners.”
“We are willing to talk to all parties involved to clean up this mess,” said Benjamin E. Diokno, Bangko Sentral ng Pilipinas Governor, the FT reported citing an interview with him. — Bloomberg