Belgian prosecutors investigate Estonia-founded Wise over money laundering suspicions

Belgian prosecutors have announced that money transfer firm Wise Europe is under investigation for suspected money laundering. According to the investigation, criminals used Wise accounts for money laundering purposes. The case is nearing its final stage.

Belgian prosecutors announced on Monday that an investigation into Estonia-founded international money transfer firm Wise Europe has reached its final stage. The company faces suspicion that criminal individuals used the firm's accounts for money laundering purposes.

Wise is one of Estonia's most prominent fintech companies, which has grown into a global player in the field of cross-border money transfers. The company was founded in 2011 in London, but maintains strong ties with Estonia. Wise Europe operates from Belgium and is responsible for European markets.

Belgian prosecutors have been investigating how criminals managed to exploit accounts opened on the Wise platform for the purpose of legalising illicit proceeds. Money laundering investigations into fintech companies in Europe have become an increasingly common trend in recent years, as regulators demand stricter customer due diligence checks.

Wise's shares are listed on the London Stock Exchange and the company serves millions of customers worldwide. The outcome of the investigation could have a significant impact on both the firm's reputation and its regulatory position in the European Union.