Financial Times: EU policymakers round on Lithuania for lax fintech oversight

A press review featuring Fabio De Masi

May 18th, 2021

Financial Times: EU policymakers round on Lithuania for lax fintech oversight
 

"European policymakers have called on Lithuania to tighten its financial oversight after the Financial Times revealed that prosecutors suspect a regulated fintech based in the country was used to steal more than €100m from Wirecard, only weeks before the German payments firm collapsed. Stasys Jakeliunas, MEP for the Lithuanian Farmers and Greens Union, told the FT he hoped that the case, which involves payments company UAB Finolita Unio, would function as a “wake-up call” for Lithuanian authorities. (...)

“The Finolita case demonstrates that fintechs are not sufficiently supervised,” Fabio De Masi, a leftwing German MP who sits on the Bundestag’s Wirecard committee, added. (...)"