The Garda National Economic Crime Bureau (GNECB) raided the Irish office of failed Munich-based electronic payments provider Wirecard on Thursday, as it seeks to assist German authorities in their fraud investigation into the once high-flying group, according to sources. Last week the Garda told The Irish Times that it was “aware of this evolving situation” when asked if the organisation was looking into the activities of the Wirecard UK & Ireland, Dublin-based unit of the German group. Officials at the Office of the Director of Corporate Enforcement had also declined to comment on whether they were examining Wirecard UK & Ireland. The raid by the Garda of Wirecard’s Dublin office marks a further widening of the German investigation. Wirecard UK & Ireland avails of a provision in Irish company law that allows it to file accounts for the parent group, rather than the local unit, with the Companies Registration Office.

Source: The Irish Times July 09, 2020 12:14 UTC