Wise placed under investigation by Brussels over money laundering control concerns
The Brussels prosecutor's office has opened an investigation into the anti-money-laundering control processes of cross-border fintech firm Wise. The company said it is co-operating with prosecutors and that no specific findings have so far been shared.
BBC BusinessAccording to BBC Business, Wise said it continues to co-operate with Belgian authorities and that 'no specific findings have been shared with us to date'. The Brussels prosecutor's office confirmed it is reviewing the control records of certain cross-border remittance flows. Wise's compliance teams in London and Tallinn are providing documents to prosecutors.
Wise shares fell about 4.2 percent on the London Stock Exchange after the open. Berenberg analyst Peter Richardson wrote that the firm views the investigation as 'a specific supervisory review rather than a structural model issue'. JPMorgan Cazenove analyst Bruce Hamilton said the team does not expect weekly fee revenue impact, but cumulative regulatory cost could trim the year-end earnings forecast by 3 to 5 percent.
European Banking Authority spokesperson Franca Rosa Congiu said the agency intends to 'coordinate' with the Brussels investigation. Wise Chief Legal Officer Mike Holding recalled that the firm increased compliance spending by 22 percent year-on-year in its 2025 annual report. The UK Financial Conduct Authority declined to comment. Not investment advice.
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