Financial Times: Commerzbank warned BaFin about Wirecard in early 2020
A press review featuring Fabio De Masi
"Commerzbank warned Germany’s financial watchdog about money laundering risks at Wirecard in early 2020, underlining how fears about the payments group were building months before it collapsed. The stark assessment Commerzbank offered BaFin in January last year was based on the findings of an internal review the bank began into its relationship with Wirecard in early 2019, according to three people familiar with the matter. (...)
The bank’s internal review and warning to BaFin “undermines the view” that the German government and Wirecard’s business partners, such as Commerzbank, were “powerless with regard to Wirecard’s criminal intent”, said Fabio De Masi, an MP from the hard-left party Die Linke.
“If Commerzbank pulled out of its correspondent banking relationship with Wirecard Bank in September 2019, why didn’t the lender also sever its credit relationship?” asked Mr De Masi. (...)"