On 27 June 2022 the Financial Conduct Authority reported that Kristo Kaarmann was on its list of individuals and businesses penalised for a deliberate tax default. A London Stock Exchange notice and The Guardian carried the story the same day.
He was reportedly listed for 12 months starting in September 2021. The unpaid amount was 720,000 pounds, for the 2017-18 tax year. The listing came shortly after Wise's July 2021 direct listing in London at $11 billion.
The business kept growing. In the year to 31 March 2026 Wise reported net revenue of $2.5 billion, up 19 percent, and income before tax of $660.4 million. Its primary listing moved to Nasdaq in May 2026, with London kept as a secondary listing.
Kaarmann remains CEO. The Sunday Times Rich List 2023 put his wealth at 1.134 billion pounds, ranked 156th.