Belgium prosecutors launch probe into local Worldline unit
In the wake of allegations about payments processor Worldline earlier this week, Belgian prosecutors have opened an investigation into potential money laundering activities at the firm's local unit.
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Shares in French giant Worldline plummeted on Wednesday after a "Dirty Payments" investigation, which was led by the European journalism network EIC and 21 media outlets, alleged the company covered up client fraud to protect revenue.
Now, the Brussels Public prosecutor says it has opened an investigation, entrusted to the Federal Judicial Police, amid claims that Worldline processed payments for companies involved in illegal activities.
In a statement to Reuters, Worldline says it will cooperate with the authorities.
Worldline has strongly defended itself against the allegations, stating that it has conducted a "thorough review" of its high-brand-risk portfolio, such as online casinos, stockbroking and adult dating services, since 2023.
It added that it maintains "zero-tolerance" for non-compliance and engages regularly with regulatory authorities.
In a call with analysts reported by Bloomberg, CEO Pierre-Antoine Vacheron, said Worldline had been 'attacked' by the media, and that there was 'nothing new' in the reports aside from an 'unacceptable narrative'.
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