Mastercard Linked to Criminal ActivitiesJudy Rubio
Wirecard, as many mass media reports announce, has recently been implicated in a new case related to a series of criminal activities. All of them are linked to a Mastercard executive who was operating at one of the banks located in Cyprus.
Wirecard is a payments processor based in Germany. This facility is rather controversial in many aspects, and, as we know, this issuer is responsible for a few crypto debit cards and they have been implicated in some certain cases that investigators link to serious criminal activities.
Approximately six years ago, the American authorities found it important to ban financial bodies from dealing with the bank in Cyprus after the organization was suspected of money laundering. Police officers claim that the bank was involved in transnational organized crime. There are other activities like terrorist financing and fraud that the bank was aware of.
Other illicit activities include sanctions evasion and fraud. Experts announce that the allegations could have included facilitating the processing of funds that were tied to the program developed in Syria by a group focusing on chemical weapons. More than that, there is evidence that the group dealt with internet child sex abuse. More can be found in thereport made on Monday where official representatives reveal the details of the case.
The Cyprus bank, as many trustworthy information sources claim, has tight ties to Wirecard. At the same time, the connection is established through an anonymous key client. Data shows that the latter has managed to get involved in a scandal when it couldn’t find reasons for a missing two million and one hundred thousand USD in cash on the firm’s books.
Crime That Consists of Many Layers
Police officers tried to uncover the missing money. All analysts admit that this made Wirecard file for insolvency. This action, in turn, led to the arrest of the firm’s executive located in Germany. Another representative of the group is said to be hiding in a foreign country. Many believe he is now in Russia.
It’s very probable that the man is fully relying on assets he transferred employing cryptocurrencies. An anonymous executive of Mastercard is now accused by a number of private investigators of covering up practices involving money laundering. Authorities report that the suspects used various techniques to hide their operations and make them invisible and untraceable.
Journalists say that the entire system operated by supporting phantom transactions between companies and avoided the incidence of suspicious transactions. Their volume of transactions was artificially inflated. An official representative of the bank claims that all these allegations are still unproven. He thinks that the court hasn’t managed to detect any findings and has no way of supporting them since there is not enough evidence.
In fact, none of the links between the two parties have been proven so far. However, the enforcement process is quite rigorous and it can lead to the suspension of licenses, in such cases they can involve fines. A recent report says there are miscoded gambling transactions. Investigators see that here might have been stolen card purchases. Finally, they are ready to prove that the system saw plenty of reversed transactions.
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