The Wirecard Scandal – A Whistleblower’s Perspective
The Wirecard Scandal – A Whistleblower’s Perspective
October 9, 2023
Date
9:00 AM - 1:00 PM
Time
RM 1,200*
Program Fee
N/A
Format
Overview
On 18 June 2020, Wirecard announced that nearly 2 billion euros were missing from the company’s accounts. The sum amounted to all the profits that Wirecard had ever reported as a public company. There were only two possibilities: the money had been stolen, or it had never existed.
Presenting this course together with Daniel Chia is Pav Gill, Wirecard’s former head of legal for the Asia-Pacific region, who uncovered the fraud and blew the whistle on the company resulting in the largest fraud in German, and much of European history. Participants will be exposed to a whistleblower and senior executive’s perspective.
They will learn about the background of Wirecard, the allegations of fraud and financial misconduct that surfaced, the investigation and legal proceedings that followed, and the impact of the scandal on customers and stakeholders. They will be exposed to real life examples of how certain executives manipulated company accounts that led to Wirecard being valued at over 24 billion euros on the prestigious German DAX index – larger than both Deutsche Bank and Commerzbank combined.
The program will also examine the lessons learnt and reforms implemented in the wake of the Wirecard scandal, the importance of implementing effective whistleblowing structures (both internal and external), and how companies can foster a ‘speak-up’ culture which is critical in boosting investor, employee and customer confidence.
- Learn first-hand and hear an in-person account of how poor control structures resulted in one of Europe’s largest financial scandals
- Apply lessons learnt from the scandal in undertaking a gap analysis of their existing business structures, control functions, and practices
- Understand the importance of fostering a speak-up culture and ways to implement it
- Understand concepts of various whistleblowing tools available and the laws which apply to their businesses within the territory or extra-territoriality
- Obtain a deeper understanding of their current functions as executives in an organization
- Board of Directors
- Senior Management
- Legal, Risk and Compliance Officers
- Anyone who might find this program helpful
Faculty Profile
Pav Gill
Daniel Chia
Connect with us to start
The Wirecard Scandal – A Whistleblower’s Perspective
RM 1,200*
*excludes Sales & Service Tax (8%)
