Wise Shares Fall on Belgian Money Laundering Probe
The Brussels Public Prosecutors Office is investigating Wise Europe over suspicious transactions reportedly exceeding 500 million euros. Prosecutors are examining potential links to fraud and drug trafficking while Wise states it is cooperating with the ongoing inquiry.
WISE PLC - A shares fell more than 10% on Monday as Belgian authorities investigated $582.5 million in suspicious transactions. The Brussels Public Prosecutors Office is probing Wise for potential money laundering linked to fraud and drug trafficking. A potential criminal summons threatens the company's reputation following its recent shift to a Nasdaq listing.
### Probing Half a Billion in Suspicious Flows Prosecutors in Belgium are examining whether international criminal organizations used Wise Europe for money laundering. The investigation began last year and is currently nearing completion, according to the Brussels Public Prosecutors Office.
