Wise share price under pressure following Belgian money laundering investigation

Shares in Wise came under pressure on Monday after Belgian authorities raised questions about the company's money laundering controls. The London-based fintech group confirmed that it is responding to inquiries from Belgian authorities, without initially providing further details.

Wise later stated that it is cooperating with the Brussels public prosecutor's office. The company emphasised: "To date, we have not been informed of any specific findings". This suggests that the investigation is still in an early stage and no concrete allegations have been made against Wise.

Focus on money laundering obligations

Belgian authorities are focusing on whether Wise has fulfilled its obligations to combat money laundering. Such controls are central for fintech companies that process cross-border payments and are therefore particularly vulnerable to misuse by illegal financial flows.

Wise is one of Europe's largest fintech providers and specialises in international money transfers. The company operates in several countries and is therefore subject to different regulatory requirements. Belgium is an important market for Wise and also a hub for European financial flows.

Intensified regulatory scrutiny worldwide

The investigation comes at a time when fintech companies worldwide are facing increased regulatory scrutiny. Authorities in Europe and elsewhere have tightened their requirements for combating money laundering and terrorist financing. For Wise, a negative investigation could have significant consequences – both for its reputation and for potential fines or operational restrictions.