Vincent Xu discusses the recent bankruptcy of Wirecard, which has been called as one of the worst financial disasters in Europe since the financial crisis. A combination of opaque business practices, ignorant culture of non-compliance and lack of business partner control all contributed to the eventual revelation that $2 billion was missing from the company’s accounts. The downfall of the German fintech darling sparked conversation about the trend of false optimism in the up-and-coming fintech industry “disruptors.” As the success of the fintech industry relies heavily upon the trust that is given by society, fintech companies must close the gaps in regulatory policies and compliance practices.