[celticninja]

I have a relative in finance and he says this sort of issue is a lot more prevalent, it's just easier to hide when things are good. When times are bad it's more difficult so more get found out. But it's important to remember that people have been sounding the alarm about Wirecard for years and Worecard, the German government and German Finance Authority (BaFin) have gone after the short sellers and journalists who have tried to expose it. Very few involved have any incentive for these to be uncovered, those that do generally have a lot less power than those that don't want it found out and they will happily use that power to intimidate and destroy their opponents.

[hef19898]

I would have almost said "blockchain"... But in all seriousness, if nobody bothered to cross-check 1.9 Bn in the Phillipines, even after all the reports hat came out, the Sigapore investigations and so on, even blockchain wouldn't have done a lot of good. One call at the Phillipines banks would have been enough...

[CyberDildonics]

Warren Buffet would say that when the tide goes out you see who is swimming naked.