Wirecard’s Philippine Business Partners Under Probe: Report

The Wirecard logo can be seen at the headquarters of the payment service provider on June 24, 2020, Bavaria, Aschheim. In front of it there is a traffic sign. (Photo: Sven Hoppe/picture alliance via Getty Images)

By Ian Sayson

Philippine regulators are investigating Wirecard AG’s local partner businesses which could establish the full extent of the Southeast Asian nation’s exposure to one of Europe’s worst accounting scandals, the Financial Times 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,” 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 Diokno, the Philippine central bank governor, the FT reported citing an interview with him.

© 2020 Bloomberg L.P.