Wise entered remediation plan in Europe over anti-money laundering controls, FT reports

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Wise entered remediation plan in Europe over anti-money laundering controls, FT reports - Channel News Asia

Quick Summary:

:British money transfer firm Wise was forced into a formal remediation plan by European regulators over its anti-money laundering controls, the Financial Times reported on Friday, citing five people familiar with the matter.

The Belgian National Bank declined to comment to the newspaper.

The plan also required the firm to freeze the accounts of customers who did not provide the documents in time, the FT added.