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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
TAKASHI NAKANO, Nikkei staff writer | Singapore

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.

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