Why does medical data not belong to the patients? What does that do to science and hospital care? Plus: Why Visa cancelled their bid to buy the fintech startup Plaid.
German fintech darling Wirecard has collapsed among allegations of fraud, money laundering and very underhanded practices. But the things coming to light about the company and its executive Jan Marsalek now are even more egregious than anything we had heard so far.
German payment processing company Wirecard is currently falling apart under a criminal fraud investigation after 1.9 billion euros went missing. What is lesser known, is that the company, which got its start by processing gambling and porn payments, also apparently ran psychological warfare campaigns to silence whitleblowers.
Almost a quarter of US consumers have given a company access to their bank account that they probably have never heard of. This shadowy company, which is collecting all of this data on financial transactions is called Plaid and they are coming for your bank account next.