TLDR Tech / Fintech
Wise shares drop on Belgian money-laundering investigation
Wise shares fell more than 10% after Belgian prosecutors said they are investigating the company's European entity over potential money-laundering offences tied to more than €500 million in suspicious transactions. The probe is examining whether Wise Europe's services were used by criminal organizations linked to fraud, corruption, and drug trafficking. Wise said it is cooperating with Brussels prosecutors and continues to invest in compliance systems to combat increasingly sophisticated illicit activity.
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