COVID-19 increases pressure on Myanmar firms to improve governance / Blockchain to prevent corruption / Wirecard's missing billions

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COVID-19 increases pressure on Myanmar firms to improve governance (opinion). "Myanmar companies need to think about good governance not only in terms of crisis management but also to adopt a long-term view of benefits. Current business priorities tend to centre around capturing efficiency gains, obtaining licenses and coordinating with authorities to shape industry policies. Small- to medium-sized enterprises try to gain a foothold in the market and typically have to commit significant resources to obtain licenses and maintain operations fitted to the local market." 

 

 

 

Blockchain technology to prevent corruption in Covid-19 response: how can it help overcome risks? (blog) "Under the Covid-19 pandemic, financial support is flowing in to strengthen health systems and purchase personal protection equipment (PPE). Billions are being spent on medical preparedness, supplies and support. Yet validation of the price, quality, and origins of technology and equipment is often challenging. (...) The risks of corruption — for example, misuse of funds, overpricing of equipment, or the production of counterfeit goods — are overwhelming. Blockchain technology can, in the right circumstances, be a tool to overcome some of these challenges." 

 

 

 

Wirecard's missing billions not in the Philippines, central bank says. "The Philippines' central bank said on Sunday that $2.1 billion (€1.9 billion) belonging to German payment firm Wirecard had not entered the country's financial system. The announcement comes after Wirecard CEO Markus Braun resigned, as the company remains in hot water for not posting annual financial statements on four separate occasions and for alleged fraud. Wirecard's latest financial statement postponement was triggered when the company's auditor Ernst & Young said that proof for deposits totaling $2.1 billion could not be found." 

 

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