Worldline is initiating an external audit due to reports of billions of euros in suspicious transactions, which caused a significant drop in its share price. Director general Pierre-Antoine Vacheron announced a complete review of high-risk activities will be conducted by the end of July. The firm has engaged Accuracy for the audit and Oliver Wyman to evaluate its control systems. Worldline, which processes payments for clients considered high-risk, has strengthened its risk management framework and terminated non-compliant relationships to ensure adherence to legal standards.
Worldline plans an external audit to assess its portfolio of risky activities after reports of billions in suspicious transactions led to a share price collapse.
Board chairman Wilfried Verstraete confirmed key findings from the audit would be revealed on July 30, alongside the firm's half-year results.
Worldline has hired Accuracy to manage the audit and Oliver Wyman to review its overall control system amid allegations of processing fraudulent transactions.
The firm has enhanced its merchant risk management framework since 2023, terminating relationships with clients deemed non-compliant with legal requirements.
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