June 29, 2020 / 10:42 AM / 5 days ago

Germany agrees to terminate contract with accounting watchdog

FILE PHOTO: The headquarters of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions is seen in Aschheim near Munich, Germany April 25, 2019. REUTERS/Michael Dalder/File Photo

BERLIN (Reuters) - Germany will cancel its contract with the country’s accounting watchdog FREP, a justice ministry spokesman said on Monday, after payments company Wirecard filed for insolvency last week in one of Germany’s biggest fraud scandal.

A government official said on Sunday Berlin planned to terminate the contract.

Reporting by Thomas Seythal; Editing by Riham Alkousaa

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