Wise stock sinks after Belgian prosecutors launch money-laundering investigation

The Brussels Public Prosecutor's Office says it is finalizing an investigation into suspicious transactions worth more than €500 million

Bloomberg / Getty Images

Wise stock fell as much as 19% in London on Monday after Belgian prosecutors confirmed they are investigating the fintech company's European operations over potential money-laundering offenses tied to more than €500 million ($582 million) in suspicious transactions.

According to Bloomberg, prosecutors opened the case last year and have described it as nearly complete, with the inquiry centered on whether criminal networks exploited Wise Europe's services to move money derived from fraud, corruption, and drug trafficking. A formal summons to........

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