What is the latest case on them from Belgium prosecutors

Belgian authorities have launched a major criminal investigation into Wise Europe over suspected anti-money laundering (AML) compliance failures, sending the company's shares tumbling as much as 20% on Monday, June 1, 2026.

Here are the key details of the ongoing investigation by the Brussels Public Prosecutor's Office:

The Scope of the Investigation

• Half a Billion Euros: Prosecutors are examining roughly €500 million in suspicious transactions processed through Wise Europe.
• Widespread Criminal Links: The probe was triggered last year after Wise accounts repeatedly appeared in hundreds of cross-border requests for judicial assistance (European Investigation Orders) from more than 30 countries.
• Underlying Offenses: The transactions are suspected to be linked to international criminal organizations laundering the proceeds of fraud, corruption, illegal gambling, and drug trafficking.

What Wise is Accused Of

The Belgian prosecutors have cited "indications of non-compliance with anti-money laundering legislation." The core of the allegation is a lack of proper identification of clients and their activities (KYC/AML failures), allowing bad actors to exploit the platform to move illicit funds across borders.

This is not the first time Wise's AML controls have been flagged. In 2021, the National Bank of Belgium forced the company into a remediation plan after finding it lacked proof of address for hundreds of thousands of customers. Last year, its US subsidiary also paid a $4.2 million fine to US state regulators for Bank Secrecy Act and AML violations.

Wise's Response

Wise confirmed the investigation in a statement to the London Stock Exchange on Monday, stating they are routinely answering queries from the Brussels prosecutor.

To defend the high volume of criminal files linked to their Belgian entity, Wise noted a structural reality of their business: following Brexit, Wise manages its entire European operations from Brussels using the EU passporting regime. Therefore, law enforcement requests from the entire European Economic Area are legally directed to their Belgian office, unlike traditional banks that manage localized requests branch-by-branch.

Wise also emphasized that one-third of its global workforce is dedicated to fighting financial crime.

What Happens Next?

The investigation is being handled by the central services of DJSOC (Belgium's federal police) and is reportedly at an advanced stage and nearing completion. Wise Europe could soon face a direct summons before a criminal court or a massive settlement.