UK markets watchdog says Wirecard restrictions to stay for now

FILE PHOTO: The headquarters of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions is seen in Aschheim near Munich, Germany April 25, 2019. REUTERS/Michael Dalder/File Photo

London – Britain’s Financial Conduct Authority on Monday said its restrictions on collapsed German payments company Wirecard will remain until its concerns have been satisfied.

The FCA has forced firms in Britain using Wirecard to freeze their accounts, trapping customer money.

“We cannot lift the restrictions without reassuring ourselves that the firm has been able to satisfy all our concerns for example that all clients’ money is safe.

“We hope to be able to issue an update soon,” the FCA said in a statement.


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