Belgian prosecutors are in the advanced stages of an investigation into money transfer company Wise, over suspicions that criminal groups used its accounts for money laundering.
The Brussels prosecutors' office launched the probe last year after the British firm's name repeatedly appeared in hundreds of requests for assistance from investigating authorities in other countries.
"The investigation is now at an advanced stage and nearing its conclusion," a spokesperson said. "The findings primarily concern the use of Wise accounts for criminal purposes, with indications of non-compliance with anti-money laundering legislation, particularly due to a failure to identify customers and their activities."
Investigators are examining whether criminal groups used Wise services to launder proceeds from fraud, corruption, and drug trafficking.
The probe focuses on Wise Europe, the Belgium-based European subsidiary, which said it is cooperating with prosecutors. The company stated that requests for information "are a normal part of operations and are not, in themselves, indicative of non-compliance."
Wise, with over 19 million active customers, processes approximately 4.7 million transactions per day and handled more than $243 billion in cross-border transactions during the 2026 financial year. Shares on the London Stock Exchange were down nearly 15% by midday.