Belgian prosecutors are at a sophisticated stage of an investigation into cash switch firm Sensible on suspicion that felony organizations used the corporate’s accounts to launder cash, authorities mentioned on Monday.
The Brussels public prosecutor’s workplace introduced final yr that it had launched an investigation after the British firm’s identify repeatedly appeared in tons of of requests for help from investigators from different nations.
“The investigation is presently at a sophisticated stage and is nearing its conclusion,” a spokesperson for the general public prosecutor’s workplace advised AFP, confirming data first reported by the European Investigative Cooperation (EIC) community.
“The findings of this investigation primarily concern the usage of Sensible accounts for felony functions, and there are indications of violations of anti-money laundering legal guidelines, notably by failing to determine prospects and their actions.”
Investigators are trying into whether or not felony teams could have used Sensible’s companies to launder proceeds from unlawful actions corresponding to fraud, corruption and drug trafficking.
The investigation focuses on the corporate’s European subsidiary, Sensible Europe, primarily based in Belgium, which mentioned it was cooperating with prosecutors and responding to requests for details about its operations.
The corporate mentioned in an announcement that such requests for data “are a standard a part of its operations and should not in themselves indicative of non-compliance with anti-money laundering necessities or fraudulent exercise.”
“Thus far, no particular findings have been shared with us,” the corporate added.
Sensible says it has greater than 19 million energetic prospects worldwide and processes roughly 4.7 million transactions per day.
The corporate introduced that it processed greater than $243 billion (€213 billion) in cross-border transactions throughout the 2026 monetary yr.
Sensible shares on the London Inventory Alternate have been down practically 15% by noon.
