WorldLine begins independent reviews after fraud claims

WorldLine Propervance has recruited external specialists in checking its customer base and its internal controls after the media’s allegations by overcoming a sharp decrease in its value.

In an interview with Les Echos, the company’s president, Wilfrid Versraee, confirmed that the accuracy, an audit company, will evaluate the company’s portfolio from traders at risk.

In addition, Oliver and Iman consultations were appointed to examine compliance mechanisms in WorldLine.

WorldLine intends to reveal preliminary results from these reviews in addition to their financial results for half a year on July 30, as he told VersraeTe Les Echos, with the aim of restoring confidence between investors and stakeholders.

Auditing operations follow reports of European investigation cooperation, a network that includes 21 European media, which has claimed that WorldLine ignored organizational warnings and maintained relationships with clients associated with high fraud rates.

In response, WorldLine stated that it has strengthened the elements of commercial risk control since 2023 and ended the incompatible customer relationships.

These claims caused a decrease in the market value of WorldLine from an increase of 24 billion euros (28.1 billion dollars) four years ago to less than a billion euros, Bloomberg I mentioned.

Last week, the Belgian prosecutors The investigation startedN in the Belgian WorldLine operations in the wake of the media reports.

The Sweden Financial Supervision Authority requested a meeting with the company.

The European Central Bank (ECB) continues to hold global bonds – a note of 500 million euros due in 2027 and a observation of 600 million euros in 2028 – as part of its quantum mitigation program, I mentioned Bloomberg.

According to the data released, these bonds, which were obtained years ago, remain on the list of European Central Bank’s holdings.

The European Central Bank does not reveal the volume of individual companies ’bonds possesses, and it is not necessary to sell bonds if their classifications are reduced to the degree of non -investment.

These securities are generally available for lending, allowing investors to borrow and predict the low prices.

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