About: http://data.cimple.eu/news-article/241c66186ccff83d3ebf0fd324cac7db06c5cbd18bbd942e50856b4b

Facets (new session)
Description
Metadata
Settings
- owl:sameAs
- Inference Rule:

About: http://data.cimple.eu/news-article/241c66186ccff83d3ebf0fd324cac7db06c5cbd18bbd942e50856b4b Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

Attributes	Values
rdf:type	schema:NewsArticle
schema:articleBody	Germany on Tuesday announced an overhaul of its finance watchdog Bafin, saying the new-look supervisory agency will privilege the "valuable" role of whistleblowers in preventing a repeat of scandals like Wirecard. Digital payments company Wirecard, once a rising star in the fintech sector, filed for bankruptcy last June after admitting that 1.9 billion euros ($2.1 billion) was missing from its accounts. The dramatic collapse of the company has been described by Finance Minister Olaf Scholz as "unparalleled" in Germany. The massive scam has put intense scrutiny on Bafin, which has been accused of lax oversight and of missing early warning signs that allowed the accounting fraud to go on for years. Bafin chief Felix Hufeld stepped down late last week, with Scholz announcing that a planned revamp of the supervisory agency would be accompanied by "a fresh start" at the top. On Tuesday, Scholz unveiled reforms planned for the agency, including giving auditors a deeper reach into balance sheets, having specialised teams in place to check on more complex companies, and boosting the powers of the Bafin president so that decisions can be swiftly made. At the same time, the reform will also gives a prominent place to the role of market players and whistleblowers, with such tips from these parties to be "systematically recorded and evaluated". "Information from the market and from whistleblowers is particularly valuable for Bafin's work," stressed Scholz. "I want a supervision with bite," he added. The Financial Times first raised suspicions about Wirecard's business activities in a series of articles in 2019. But these apparently did not prompt German authorities to look at Wirecard more closely at the time. In a heavily criticised moved, Bafin instead ordered an investigation into FT journalists. The Wirecard drama, which has drawn comparisons with the Enron accounting scandal in the US in the early 2000s, finally erupted a few months later. The company's former CEO Markus Braun and several other top executives have since been arrested on fraud and money laundering charges. jpl-hmn/mfp/wai
schema:headline	Germany underlines whistleblower role in financial oversight overhaul
schema:mentions	Johann Martin Augustin Scholz The Massive (comics) Financial Times Money laundering Finance minister Bankruptcy Olaf Scholz Whistleblower Germany Chief executive officer Enron scandal Accounting scandals Markus Braun GM New Look bus ReVamp Felix Mendelssohn Wirecard Financial technology
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-02-02 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	80 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

Faceted Search & Find service v1.16.115 as of Oct 09 2023

Alternative Linked Data Documents: ODE Content Formats:

RDF

ODATA

Microdata

About

OpenLink Virtuoso version 07.20.3238 as of Jul 16 2024, on Linux (x86_64-pc-linux-musl), Single-Server Edition (126 GB total memory, 5 GB memory in use)
Data on this page belongs to its respective rights holders.
Virtuoso Faceted Browser Copyright © 2009-2025 OpenLink Software