Brussels: Belgian authorities are investigating Wise Europe, the European subsidiary of a UK-based payments company, for suspected money laundering involving transactions exceeding £500 million (approximately $540 million).

According to Anadolu Agency, the Brussels Public Prosecutor’s Office initiated a judicial investigation into Wise Europe in 2025. The investigation is focused on whether the company may have failed to adhere to anti-money laundering regulations. Wise Europe, previously known as TransferWise, has been named in ‘hundreds of criminal files’ that were sent to Belgium via international legal assistance requests.

Authorities from around 30 European countries have identified transactions or accounts linked to the company that might be associated with alleged criminal activities, including online fraud, corruption, illegal gambling, and drug trafficking. These cases are being managed in Belgium because Wise Europe has been operating its European operations from Brussels since Brexit.

The investigation is reportedly nearing completion, and Wise Europe could potentially face either criminal court proceedings or a settlement. The London-based parent company has stated that it takes the fight against financial crime ‘extremely seriously’ and is cooperating with Belgian prosecutors. A company spokesperson noted that the high volume of legal assistance requests is due to the company’s centralized operations in Belgium, where cross-border requests from across Europe are processed, as opposed to traditional banks that operate through local branches.