Wise under Belgian probe over €500m in suspicious transactions

Belgian prosecutors are investigating whether Wise accounts were used to launder money from fraud, corruption and drug trafficking, with €500 million in suspicious transactions at the centre of the probe. The case emerged after Wise accounts kept appearing in criminal investigations across more than 30 European countries. Wise says it's cooperating and no specific findings have been shared yet, but shares tumbled on the news. For a fintech processing 4.7 million transactions daily, even small compliance gaps can create outsized regulatory risk.