July 10, 2020 / 12:31 PM / a month ago

Germany will have to change oversight laws after Wirecard case: Scholz

FILE PHOTO: A woman enters the headquarters of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions, in Aschheim, near Munich, Germany, July 1, 2020. REUTERS/Andreas Gebert/File Photo

BERLIN (Reuters) - The Wirecard case will result in changes to laws on financial oversight, Finance Minister Olaf Scholz said on Friday, as German prosecutors probe alleged fraud, balance falsification and market manipulation at the collapsed firm.

“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,” Scholz said.

Reporting by Joseph Nasr, editing by Thomas Escritt

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