Belgian Prosecutors Near End of Wise Probe Over €500 Million in Suspicious Transactions
Updated
Updated · BBC.com · Jun 1
Belgian Prosecutors Near End of Wise Probe Over €500 Million in Suspicious Transactions
2 articles · Updated · BBC.com · Jun 1
Belgian prosecutors said their money-laundering investigation into Wise’s European operations is at an advanced stage, focusing on suspected criminal use of accounts rather than its UK business.
Around €500 million of suspicious transactions across 30 European countries are tied to the probe, with prosecutors citing possible anti-money-laundering breaches including failures to identify customers and their activities.
Wise said no specific findings had been shared and that it was cooperating with Brussels authorities, arguing law-enforcement information requests are routine and not proof of wrongdoing.
Wise shares fell 17.5% after the news, reviving scrutiny of a group that previously faced AML criticism in Belgium and fines of $4.2 million in the US and $360,000 in Abu Dhabi.
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