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Germany’s Deutsche Bank Offers A Lifeline To Wirecard Bank

PYMNTS

Deutsche Bank, the Frankfurt-based multinational financial services company, is in talks with regulators to rescue Wirecard Bank, the deposit-taking division of the German payment company that is facing one of the country’s biggest accounting frauds, the Financial Times reported. The action was triggered when accountants reported $2.1

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FinCEN AML/CTF Priorities Part 6: Transnational Organized Crime (TOC)

Abrigo

in 2001 began outlining strategies to combat transnational organized crime. The FBI explains TOC groups are “self-perpetuating associations of individuals who operate, wholly or in part, by illegal means and irrespective of geography.” Amnesty International reported in 2007 that an estimated 3.7 A Focus Since 2001.

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Coronavirus Crippling $1.7T Tourism Sector

PYMNTS

trillion tourism industry, the biggest setback for the travel sector in almost 20 years, according to reports on Wednesday (March 4). Previous travel industry downturns were triggered by the 9/11 terrorist attacks in 2001, the SARS pandemic in 2002 and the Iraq war in 2003. South Korea and Italy have reported over 8,000 cases combined.

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DOJ Nearing Decision On Antitrust Suit Against Google

PYMNTS

Department of Justice (DOJ) is nearing the end of its antitrust investigation of Alphabet Inc’s Google as it considers whether to charge the tech giant this summer, Reuters reported. Google has also faced accusations of abusing its dominance of Android, its smartphone operating system. The two sides settled in 2001.

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PingPong To Enter Europe Via $113M Investment

PYMNTS

According to a report , the Chinese startup PingPong, a FinTech company, will invest €100 million ($113 million) in Luxembourg. PingPong and Luxembourg’s relationship goes back to 2017, when the FinTech startup got a payments license in the region, which allowed it to operate between Chinese outfits and customers in Europe.

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Takeout Marketplace Just Eat Makes Round Of Layoffs

PYMNTS

On the heels of Just Eat’s merger of customer and restaurant operation teams, Just Eat is shrinking its workforce to get rid of redundancies. and Ireland, according to a report. At the same time, the company announced Graham Corfield’s appointment to chief operating officer (COO). Graham joined the business in 2011, and as U.K.

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Madoff Whistleblower Has GE On The Defense

PYMNTS

Boston-based General Electric (GE) is defending itself against accounting fraud alleged by the same whistleblower who called out Bernard Madoff’s Ponzi scheme, Reuters reported on Monday (Aug. Financial investigators Harry Markopolos and John McPherson published the report on Thursday (Aug. Reported GE operating margins reached 16.1

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