Belgian prosecutors have initiated an anti-money laundering investigation into the cross-border payments giant Wise, concerning suspected transactions worth approximately €500 million (about $583 million USD).
The Brussels prosecutor's office has confirmed that a judicial investigation into Wise's European subsidiary, Wise Europe, was launched in 2025 and is now in its concluding stages. Prosecutors indicated that Wise accounts are suspected of being used to move funds linked to criminal activities such as fraud, corruption, and drug trafficking. The company may have deficiencies in anti-money laundering compliance, particularly regarding customer identification.
The probe originated from hundreds of mutual legal assistance requests from over 30 European countries, all of which involved Wise accounts.
Wise has confirmed it is cooperating with the Brussels prosecutor's investigation but emphasized the inquiry is ongoing and that it has not yet received any specific findings. The company stated in a declaration that information requests from law enforcement are a normal part of operations and do not in themselves indicate a violation of anti-money laundering requirements or any wrongdoing.
However, the market reaction has been significant. This marks the first time Wise has faced a large-scale criminal investigation over compliance issues, though it has a prior record. In 2022, the Belgian central bank required it to rectify issues with customer documentation. In July 2025, its U.S. subsidiary was fined $4.2 million by several state regulators for anti-money laundering shortcomings.
The investigation comes just weeks after Wise moved its primary listing from London to Nasdaq last month, with regulatory uncertainty prompting investors to quickly reassess its risk profile.
Wise stated it currently serves over 19 million active customers globally, processing roughly 4.7 million transactions daily, with about one-third of its staff dedicated to financial crime prevention. The company noted that a final assessment of its compliance capabilities awaits the conclusion of the judicial process.
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