Wise shares drop as Belgian prosecutors probe €500M money laundering
Shares of Wise, the London-based fintech company, fell sharply after Belgian prosecutors announced they are finalizing a money-laundering investigation into suspicious transactions exceeding €500 million. The Brussels Public Prosecutor's Office confirmed the probe, which targets activities linked to the cross-border payment platform. Wise, known for its low-fee international money transfers, has not yet commented on the investigation. The news led to a significant decline in Wise's stock price, reflecting investor concerns over potential regulatory and legal repercussions. The investigation is ongoing, with prosecutors indicating that it is in its final stages.
Key facts
- Wise shares fell after Belgian prosecutors launched a money-laundering investigation.
- The investigation involves suspicious transactions worth more than €500 million.
- The Brussels Public Prosecutor's Office is finalizing the probe.
- Wise is a London-based fintech company specializing in cross-border payments.
- The company has not yet commented on the investigation.
- The stock decline reflects investor concerns over regulatory and legal risks.
- The investigation is in its final stages.
- The case highlights scrutiny of fintech firms for financial crimes.
Entities
Institutions
- Wise
- Brussels Public Prosecutor's Office
Locations
- London
- United Kingdom
- Brussels
- Belgium
Sources
- Quartz —