The action plan, “on combating accounting fraud and strengthening control over capital and financial markets,” calls for consequences in light of suspicions that the DAX-listed company was cooking its books on a huge scale.

The document has not yet been agreed to by the government.

Wirecard admitted in June that 1.9 billion euros (2.2 billion dollars) in assets were likely non-existent, causing the company’s share price to collapse and prompting doubts over the efficacy of financial oversight authorities in Europe’s biggest economy.

The government of Chancellor Angela Merkel has also faced questions on when it was first made aware of Wirecard’s dubious accounting practices and whether it could have intervened.

Scholz’ plan says that “100-per-cent protection” against criminal activity is never be possible, including in finance.

“Nevertheless, crime must be countered with all legal means – preventative and repressive,” the text says.

The government could look into expanding the powers of the country’s Bafin financial regulator in order to better protect investors and consumers, including by strengthening oversight powers.

Bafin must be able to act “directly and immediately with sovereign powers” in such cases and needs special auditing rights, the paper proposes.

It also pitches “more bite” for regulators at the Federal Office of Economics and Export Control, including the power to impose sanctions, while regulations would be put in place to ensure the independence of its employees.