Overview
- Belgian prosecutors opened a criminal investigation that was reported on Monday, June 1, 2026, into whether roughly €500m in transfers flagged across more than 30 European countries were processed through Wise accounts run from its Brussels unit.
- The news sent Wise’s shares tumbling about 15 percent to 796.00p as investors weighed the risk that the probe could expose failures in transaction monitoring or reporting.
- Wise said it is working with the Brussels prosecutor, noted that the inquiry does not directly target its roughly 3 million UK users, and highlighted that around a third of its staff work on fighting financial crime.
- The Brussels inquiry builds on earlier compliance trouble for the group, including a July 2025 $4.2m settlement by Wise’s US arm with six state regulators over anti‑money‑laundering program deficiencies.
- The probe could prompt cross‑border coordination between prosecutors and regulators and may lead to outcomes ranging from further remediation orders to formal charges, with potential consequences for Wise’s European operations and for customers if restrictions are imposed.