November 8, 2017 / 9:05 AM / in a month

Wirecard denies breaking German gambling laws

MUNICH, Nov 8 (Reuters) - Wirecard denied a report on Wednesday that said it may be breaking German laws by managing the payments of gambling companies to their customers.

German daily Sueddeutsche Zeitung reported that several banks including Wirecard Bank handled payments for online casinos that are illegal in Germany, citing its “Paradise Papers” research.

It cited the interior ministry of the German state of Lower Saxony and several unnamed banking and legal experts as saying those banks could be held liable for aiding illegal gambling and money laundering.

“We reject that portrayal. We are relaxed in this matter. We are complying with the law in every way,” a spokeswoman for Wirecard said in a statement. (Reporting by Joern Poltz; Writing by Maria Sheahan; Editing by Victoria Bryan)

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