Senior employee at Mastercard was ‘involved in money laundering’ | Business | #employeefraud | #recruitment | #corporatesecurity


A Mastercard executive allegedly was involved in a money-laundering operation at a bank accused of terrorist financing and organised crime that had links to Wirecard, the disgraced German payments group.

A report commissioned by the owners of FBME Bank in Cyprus uncovered evidence of apparent criminal activity, including an alleged operation designed to trick the international card payments system into processing high-risk and potentially illegal transactions.

Private investigators found the “apparent involvement of a senior Mastercard employee in criminal activities” and recommended that the bank’s shareholders tell prosecutors in the United States that a source of the problem “may be with Mastercard”.

The investigation, called Project Waxwing, was commissioned after the US Treasury’s Financial Crimes Enforcement Network froze FBME out of the American banking


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