This review of the Netflix documentary film Skandal! Bringing Down Wirecard does not contain spoilers.
The Unlawful Internet Gambling Act was passed, making it illegal for foreign-owned companies to target Americans on gambling websites. This happens to be a company called Wirecard’s bread and butter. Over half of the online poker population came from the United States. Yet, Wirecard’s profits still went up instead of down. Now, unless this company found a way to target third-world populations without internet (they did), Buddhist monks (not yet), or Nuns across thousands of convents across Europe (at some point), the German company has some explaining to do. That’s what Skandal! Bringing Down Wirecard is all about in a sense — a modern-day digital house of cards that comes tumbling down quickly.
Director James Erskine ( Billie ) draws the connections between a team of Financial Times reporters, mainly a journalist named Dan McCrum. There were also financial experts in betting against booming companies’ success which helped guide him through the process. It’s a labyrinth of spider webs laundering money for shady figures and organizations, proving the fraudulent actions of Wirecard and their methods. For instance, the German company would outsource shell companies to a small town in England. When they later moved to United States soil and were based in New York City, they offered more fronts in a small town in Pennsylvania, always attempting to keep their hands clean.
There is even a hilarious bit of just labeling things uniquely not to raise suspicion. When anyone paid for p*********y, it was labeled “Emotional Content.” It’s a fascinating case, as these criminals found crack after crack in the system (the story of how they avoided the IPO is particularly intriguing) and used complex schemes to hide helping any merchant transferring money through digital transactions. And as simple as prepaid cash cards to launder money between criminals. It’s all straightforward, elegant, and fruitful. Accept there is no amount of loopholes or footnote accounts that can hide these transactions. Not long-term anyway, even if Wirecard was now part of the DAX index. Erskine’s film toes the […]
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