7/10, 3:19 PM (Source: TeleTrader)
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Chart for: WIRECARD AG

Wirecard case to lead to oversight rules change - Scholz

German Finance Minister Olaf Scholz (pictured) asserted on Friday that the country's oversight legislation could be changed following fraud and money laundering probe that was launched into Wirecard.

"It’s about really getting to the bottom of what happened with Wirecard. It will lead to us having to change a whole range of national laws," the minister stated.

The company reportedly falsified income reports since 2014, according to media reports, resulting in filing a criminal complaint in Austria against former executives Markus Braun and Jan Marsalen. Investigations into Wirecard's alleged misdemeanor were launched in the United States and Singapore as well.

Breaking the News / GA