Belgian prosecutors probe Wise over €500m money laundering suspicions
Belgian prosecutors are investigating fintech Wise’s European operations for potential money laundering, involving over €500 million in suspicious transactions linked to fraud, corruption, and drug trafficking across 30 European countries. The probe, opened in 2025 and nearly complete, examines whether Wise failed to comply with anti-money laundering laws. Wise shares fell up to 20% on June 1, 2026. The company is cooperating and has not received formal charges. This follows prior AML penalties in the US and Abu Dhabi.
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Wise Shares Sink as Europe Probes €500 Million in Suspicious Transfers
Shares of online bank Wise fell up to 20% on Monday after Belgian prosecutors announced an investigation into whether the company's European operations facilitated money laundering. The probe focuses on over €500 million ($582 million) in suspicious transactions linked to criminal investigations across more than 30 European jurisdictions, involving proceeds from fraud, corruption, and drug trafficking. Authorities are examining whether Wise complied with anti-money laundering (AML) requirements, including customer identification and transaction monitoring. The investigation has been underway since last year and is reportedly in an advanced stage. Wise stated it is cooperating fully and has not been informed of any formal findings or charges. Despite the company's reassurances, investors reacted sharply to potential regulatory, legal, and reputational consequences, marking one of the steepest declines since Wise's public listing. The case highlights ongoing challenges for fintech firms balancing rapid growth with stringent financial-crime controls.
Yahoo FinanceWise Shares Sink as Europe Probes €500 Million in Suspicious Transfers
Shares of online bank Wise plunged up to 20% on Monday after Belgian prosecutors announced an investigation into whether the company's European operations facilitated money laundering. The probe focuses on over €500 million ($582 million) in suspicious transactions linked to criminal investigations across more than 30 European jurisdictions, involving potential proceeds from fraud, corruption, and drug trafficking. Authorities are examining whether Wise complied with anti-money laundering (AML) requirements, including customer identification and transaction monitoring. The investigation has been underway since last year and is reportedly in an advanced stage. Wise stated it is cooperating fully and has not been informed of any formal findings or charges. Despite the company's reassurances, investors reacted sharply to potential regulatory, legal, and reputational consequences, marking one of the steepest declines since Wise's public listing. The case highlights ongoing challenges for fintech firms balancing rapid growth with stringent financial-crime controls.
Yahoo FinanceWise stock plunges as Belgian prosecutors investigate money laundering linked to €500 million in suspicious transactions
Shares of fintech company Wise fell as much as 19% in London on June 1, 2026, after Belgian prosecutors confirmed they are investigating the company's European operations for potential money laundering offenses. The probe, opened last year and described as nearly complete, centers on whether criminal networks used Wise Europe's services to move funds derived from fraud, corruption, and drug trafficking, involving over €500 million ($582 million) in suspicious transactions. Prosecutors are drafting a formal summons to criminal court and plan to forward conclusions to the National Bank of Belgium. Wise acknowledged engaging with prosecutors but stated it has not received formal findings, characterizing law enforcement inquiries as a normal part of operations. The company previously faced AML-related penalties in the US ($4.2 million settlement) and Abu Dhabi ($360,000 fine). Wise recently shifted its primary listing to Nasdaq and reported over 19 million global customers.
Yahoo FinanceWise stock plunges as Belgian prosecutors probe money laundering linked to €500 million in suspicious transactions
Wise shares fell as much as 19% in London and 11% in US markets on June 1, 2026, after Belgian prosecutors confirmed they are investigating the fintech company's European operations for potential money laundering offenses. The probe, opened last year and described as nearly complete, centers on whether criminal networks exploited Wise Europe's services to move over €500 million ($582 million) derived from fraud, corruption, and drug trafficking. Prosecutors cited indications of non-compliance with anti-money laundering legislation, particularly failure to identify customers and their activities. A formal summons to criminal court is being drafted, with conclusions to be forwarded to the National Bank of Belgium. Wise acknowledged engaging with prosecutors but stated it has not received formal findings, characterizing law-enforcement inquiries as a normal part of operations. The investigation follows previous AML penalties: a $4.2 million settlement in the US and a $360,000 fine in Abu Dhabi. Wise, which recently shifted its main listing to Nasdaq, serves over 19 million customers globally.
Yahoo FinanceWise shares plummet as money transfer firm faces fraud investigation
Shares in fintech Wise dropped 15% after Belgian prosecutors revealed an investigation into whether the money transfer firm failed to comply with anti-money laundering laws. The probe, opened last year, involves hundreds of international criminal requests across 30 European countries, with transactions totaling roughly €500m (£432m). Investigators are examining whether illicit proceeds from fraud, corruption, and drug smuggling were funneled through Wise accounts. The investigation centers on Wise's European operations managed from Brussels and does not directly target its 3 million UK users. The Financial Conduct Authority has not confirmed involvement. Wise stated it is cooperating with prosecutors and noted that about a third of its staff are dedicated to fighting financial crime. This follows a $4.2m penalty imposed on Wise's US subsidiary in July 2025 for compliance deficiencies. The company recently switched its primary listing to the US, triggering internal conflict between founders over voting rights changes.
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