Laundering

International money transfer service’s shares tumble as it confirms discussions with prosecutor’s officeBusiness live – latest updatesWise, the UK-based international money transfer service and darling of the London fintech scene, has confirmed it is answering questions from Belgian prosecutors investigating money laundering, sending its shares tumbling.In a statement to the stock market, Wise said it was “currently working with the Brussels prosecutor to respond to queries about our business, as we routinely do with regulators and law-enforcement authorities. Continue reading...

• The Financial Action Task Force (FATF) gave Singapore a mixed review on Wednesday, praising its stability but warning of vulnerabilities as a global financial hub. • Singapore's wealth and political stability attract illicit actors seeking to launder funds, prompting FATF to urge stronger oversight measures. • The assessment impacts Singapore's reputation in international finance, potentially affecting banking regulations and cross-border transactions.