Wirecard lobbied to become central payment hub for German online gambling

Germany’s gambling operators are reporting more potentially sketchy financial transactions, while a new report claims collapsed payments firm Wirecard lobbied to become a central processing hub for German-licensed gambling operators.

This week, Germany’s Financial Intelligence Unit (FIU) issued its 2019 report on suspicious activity reports that showed the number of reported transactions in 2019 rose nearly 49% from the year before. Since 2009, the annual figure has increased by a factor of 12.

The financial sector still accounts for the overwhelming bulk of all dodgy transaction reports, but the non-financial sector reported a 150% spike from 2018 to 2019. The country’s gaming operators reported an even more dramatic surge, rising from 24 suspect transactions in 2018 to 116 last year.

The gaming transaction spike can partially be explained by the number of gaming entities registered with the FIU jumping from 45 in 2018 to over 300 last year. Despite the spike, FIU chief Christof Schulte said he didn’t consider the non-financial sector’s number of reports to be “sufficient,” while vowing to “further sensitize” operators in this sector regarding their obligations.