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Wise under investigation over money laundering control concerns
Key takeaways
- Wise said it was working with the Brussels prosecutor's office but that "no specific findings have been shared with us to date".
- Belgian prosecutors told press agency AFP the investigation, which is focused on Wise's European operations and not its UK business, was "nearing its conclusion".
- Shares in the company, which is listed in London and the US, fell sharply by 17.5% after the news broke.
Why this matters: a developing story that could shape the day's news cycle.
Daniel Thomas Business reporter Jaque Silva/Nur Photo via Getty Images Wise said it had 19 million customers last year UK money transfer company Wise is being investigated over suspicions criminals used its accounts for money laundering, Belgian prosecutors have told French media.
Wise said it was working with the Brussels prosecutor's office but that "no specific findings have been shared with us to date".
Belgian prosecutors told press agency AFP the investigation, which is focused on Wise's European operations and not its UK business, was "nearing its conclusion".
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