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Ban on Wirecard money lifted

The UK arm of scandal-hit German payments company Wirecard can resume activities after the City regulator lifted a ban, releasing hundreds of millions of pounds of people’s money.

The Financial Conduct Authority (FCA) imposed restrictions on Wirecard’s UK arm after its collapse last week, leaving millions of customers without access to their funds or able to make payments. The firm has been accused of “elaborate and sophisticated fraud” after failing to locate €1.9bn in cash that was missing from its balance sheet

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