Wirecard ordered to cease payment services in Singapore

Wirecard, which primarily processes payments for merchants and helps companies to issue pre-paid cards in Singapore, filed for insolvency in June after a 1.9 billion euro ($2.3 billion) hole was discovered in its books.

Singapore police are among a number of global authorities investigating Germany’s biggest post-war corporate fraud.

“Wirecard SG has informed MAS that it is unable to continue providing payment processing services to a significant number of merchants,” the Monetary Authority of Singapore (MAS) said in a statement.

Singapore police are among a number of global authorities investigating Germany’s biggest post-war corporate fraud.

“Wirecard SG has informed MAS that it is unable to continue providing payment processing services to a significant number of merchants,” the Monetary Authority of Singapore (MAS) said in a statement.