ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Finance

Singapore orders Wirecard unit to halt services and return money

Bankrupt German fintech's local arm faces Oct. 14 refund deadline

Once considered a fintech wunderkind, Wirecard is now under investigation for fraud.   © Reuters

SINGAPORE -- The Singaporean central bank has ordered the local arm of German payment services group Wirecard to shut down operations and to return all customer funds by Oct. 14.

The Monetary Authority of Singapore made the announcement Wednesday.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more