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Singapore police looking into reports of alleged financial irregularities at Wirecard

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FILE PHOTO: An employee of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions, presents the contactless payment system “boon” at the company’s headquarters in Aschheim near Munich, Germany September 6, 2018. REUTERS/Michael Dalder

SINGAPORE (Reuters) – Singapore police on Monday said it was looking into reports by the Financial Times of alleged financial irregularities at German payments firm Wirecard AG.

The FT last week published two reports about alleged wrongdoing at Wirecard’s Singapore office that sent shares in the member of the blue-chip DAX sharply lower.

Wirecard responded to the reports saying they were “inaccurate, misleading and defamatory”.

“The Police are looking into the matter,” a spokeswoman for the Singapore Police Force said in response to an emailed question from Reuters about the reports.

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