Wise under investigation over money laundering controls
The Brussels prosecutor's office has launched an investigation into Wise over concerns about its money laundering controls. Wise says it is working with the prosecutor's office but no specific findings have been shared yet. The investigation could impact UK students and young adults who use Wise for international money transfers.
Key takeaway
The Brussels prosecutor's office is investigating Wise over concerns about its money laundering controls.
- The investigation is being carried out by the Brussels prosecutor's office.
- Wise is cooperating with the investigation.
- No specific findings have been shared with Wise to date.
What happened
The Brussels prosecutor's office has started an investigation into Wise, a popular service used by UK students and young adults for international money transfers. The investigation is focused on concerns about Wise's money laundering controls.
Wise has confirmed that it is working with the prosecutor's office but has not received any specific findings yet.
The investigation was announced on Monday, 1 June 2026.
What this means for you
If you use Wise for international money transfers, you might be concerned about the impact of this investigation on your finances. The investigation could potentially lead to changes in Wise's services or how it operates.
For now, Wise says it is cooperating with the investigation and has not received any specific findings. You can continue to use Wise but keep an eye on any updates from the service.
If you have concerns about your money or Wise's services, consider speaking to a qualified financial adviser for guidance.
Source
BBC Business
Read original article (opens in new tab)This article is based on reporting from BBC Business. Ratio Report provides context and analysis for UK students and young adults.
FAQ
Frequently Asked Questions
What Is Wise Being Investigated For?
Will This Investigation Affect My Wise Account?
What Should I Do If I Have Concerns About My Wise Account?
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