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This chapter explores corporate governance challenges and failures in the fintech sector, focusing on five high-profile corporate scandals: Centra Tech (2018), BitConnect (2018), QuadrigaCX (2019), Wirecard (2020), and FTX (2022). These cases reveal significant deficiencies—including poor board oversight, lack of transparency, and misuse of investor funds—that have undermined trust and stability in the financial ecosystem. By analyzing these failures, the chapter identifies critical lessons and emphasizes the need for robust governance frameworks, enhanced transparency mechanisms, and strengthened investor protections. Key recommendations include integrating RegTech solutions, embedding ESG principles, and fostering diverse board expertise to better address emerging risks and complexities in fintech operations. The chapter also emphasizes the importance of global collaboration in advancing regulatory reforms for the fintech sector. This analysis aims to guide fintech firms and policymakers in building a more resilient and sustainable fintech ecosystem.

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Lessons from Corporate Scandals: Strengthening Corporate Governance in the Fintech Era

  • 章节

  • 发表日期：

    2025年

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  • Dinushi Wijesinghe,
  • Devmali Perera,
  • Samangi Bandaranayake,
  • Gayathri Gunatilake

摘要

This chapter explores corporate governance challenges and failures in the fintech sector, focusing on five high-profile corporate scandals: Centra Tech (2018), BitConnect (2018), QuadrigaCX (2019), Wirecard (2020), and FTX (2022). These cases reveal significant deficiencies—including poor board oversight, lack of transparency, and misuse of investor funds—that have undermined trust and stability in the financial ecosystem. By analyzing these failures, the chapter identifies critical lessons and emphasizes the need for robust governance frameworks, enhanced transparency mechanisms, and strengthened investor protections. Key recommendations include integrating RegTech solutions, embedding ESG principles, and fostering diverse board expertise to better address emerging risks and complexities in fintech operations. The chapter also emphasizes the importance of global collaboration in advancing regulatory reforms for the fintech sector. This analysis aims to guide fintech firms and policymakers in building a more resilient and sustainable fintech ecosystem.