Wise Group, a London‑based fintech with 14.8 million customers, handles $16 billion in monthly flows. After a Bureau of Investigative Journalism report, Belgian prosecutors opened a probe into possible money‑laundering ties, sending the stock to an 18‑month low. Shares slipped 9.2 % to 8.48 pounds in European midday trade and fell over 10 % pre‑market to $11.44 in New York.

The investigation targets a €500 million transaction—roughly $583.1 million—suspected of funneling proceeds from fraud, corruption and drug trafficking through Wise accounts. Prosecutors seek to determine whether criminals exploited the platform to clean illicit funds, a claim that could trigger regulatory scrutiny and damage the company’s reputation today.

Wise said it is currently working with the Brussels prosecutor to answer queries, noting that investigations remain incomplete and no findings have surfaced. The sharp drop underscores how regulatory concerns can instantly erode market confidence, leaving investors staring at a share price that has fallen to 8.48 pounds after the probe was unveiled.

Market participants have already priced in the fallout, with the stock’s decline wiping out roughly £500 million of market value at the low point. Analysts warn that a protracted inquiry could prompt stricter EU banking rules, forcing Wise to tighten compliance protocols. Until the prosecutor’s findings surface, the company’s future trajectory remains uncertain.