Wise PLC, the fintech company known for its cost-effective cross-border payments, is under scrutiny as Belgian prosecutors investigate its accounts for potential money laundering linked to fraud, drug trafficking, and corruption. The probe, which began in 2022, has now been publicly disclosed, leading to an 18% drop in Wise's share price, erasing billions in market value. The investigation involves approximately €500 million in suspicious transactions across more than 30 European jurisdictions. Belgian authorities have received numerous judicial requests highlighting potential compliance failures. Previously, the National Bank of Belgium identified significant gaps in Wise's customer due diligence, prompting a remediation plan. Wise's US subsidiary also faced a $4.2 million fine in 2025 for inadequate anti-money laundering compliance. The market's reaction reflects heightened regulatory risk for Wise, which could face severe penalties if found negligent in its anti-money laundering practices. The outcome of this investigation could impact Wise's operations across various jurisdictions.