Belgian Prosecutors Advance Money Laundering Probe Into Wise
Belgian authorities are concluding an investigation into whether Wise's European subsidiary failed to identify customers and allowed criminal use of its accounts. The company said it is cooperating but has received no specific findings.
EuronewsBelgian prosecutors said Monday they are in the advanced stages of an investigation into Wise Europe, the company's Belgium-based subsidiary, over suspected failures to prevent money laundering. The probe, opened last year, centers on whether criminal groups used Wise accounts to launder proceeds from fraud, corruption, and drug trafficking.
Officials cited repeated requests for assistance from authorities in other countries as the reason the inquiry began.
Brussels prosecutors' office told AFP that the findings primarily concern the use of Wise accounts for criminal purposes and indications of non-compliance with anti-money laundering rules, particularly a failure to identify customers and their activities.
The investigation focuses on Wise Europe and does not involve the firm's UK operations. Prosecutors described the case as nearing its conclusion. Wise said it is cooperating with requests for information and described such inquiries as routine. The company stated that no specific findings have been shared with it to date.
Wise said requests for information from law enforcement are a normal part of operations and are not, in themselves, indicative of non-compliance or wrongdoing. It added that it takes financial crime extremely seriously and that around a third of its global staff work on protecting customers.
The company processes about 4.7 million transactions per day and handled more than $243 billion in cross-border transfers during the 2026 financial year. It has more than 19 million active customers worldwide. Wise's anti-money laundering controls have drawn prior regulatory attention.
In 2024 the National Bank of Belgium required improvements after finding the firm lacked proof of address for hundreds of thousands of customers. The company was also fined $4.2 million by six U.S. states last year and $360,000 by Abu Dhabi's financial services regulator in 2022.
Wise shares on the London Stock Exchange fell nearly 15 percent by midday Monday. The company is dual-listed in London and on the Nasdaq, where it moved its primary listing last month.
Transparency
Rewrite inherits consensus framing of Wise as repeatedly non-compliant with AML rules, foregrounding negative regulatory history and market punishment while softening company response.
Valence skew: systematically negative verbs and adjectives applied to Wise's compliance record
The same facts could be read as Belgian authorities confirming that Wise is a responsible actor that routinely cooperates with law enforcement, has already fixed prior issues, and is being used as a conduit by sophisticated criminals despite industry-leading c
2 independent outlets report the same core facts. This score blends how many outlets corroborate, their editorial tier, and how closely their facts agree — it measures corroboration, not proof.
Sources framed at 65 → our rewrite 55. We stripped 10 points of framing the sources carried in.
Story details
Related Stories
The Japan TimesFinland Prepares to Begin Permanent Burial of Spent Nuclear Fuel at Onkalo Repository
The Onkalo geological repository in Eurajoki, Finland, is nearly ready to begin permanent underground storage of radioactive spent nuclear fuel. The facility, blasted into 1.9 billion-year-old bedrock, is expected to be the world's first of its kind.
indiatoday.intoday.inIran war raises jet fuel costs and cuts flights to Southeast Asia
Elevated fuel prices and route changes linked to the Iran conflict have prompted airlines to cancel flights and increase fares to tourism-dependent countries. Tourism revenue supports millions of jobs and contributes up to 13 percent of GDP in Thailand.
rediff.comPentagon Reports $29 Billion Spent on Iran Conflict Through Mid-May
The Pentagon has released updated figures showing U.S. military spending on the Iran conflict reached $29 billion by May 12. Officials and independent analysts differ on total costs and what expenses should be included.