The FTs "Big Read" this week starts by explaining how a jovial 33-year-old Indonesian accountant for the global payments group Wirecard, called half a dozen colleagues into a Singapore meeting room, picked up a whiteboard pen and began to teach his colleagues how to "cook the books".
Mr Kurniawan then sketched out a practice known as “round tripping”: a lump of money would leave the bank Wirecard owns in Germany, show its face on the balance sheet of a dormant subsidiary in Hong Kong, depart to sit momentarily in the books of an external “customer”, then travel back to Wirecard in India, where it would look to local auditors like legitimate business revenue.
https://www.ft.com/content/d51a012e-1d6f-11e9-b126-46fc3ad87c65