Swiss financial regulators have ordered Swissquote to strengthen its AML measures.

According to a report by Bloomberg on July 2, the Swiss Financial Market Supervisory Authority ( Finma ) has recently intensified its regulatory scrutiny of Swissquote Group Holding SA, Switzerland's largest consumer trading platform, requiring it to take more effective measures to reduce suspicious activities. Swissquote's CEO Marc Buerki revealed that Finma explicitly instructed the company to reduce the number of reports submitted to Switzerland's AML office in an annual assessment letter earlier this year. This action comes in response to a surge in fraud attempts and hacker attacks faced by the platform recently. It is noteworthy that Swissquote, as one of the early traditional financial institutions in Switzerland to offer Crypto Assets trading services, may face impacts on its compliance requirements across various businesses, including Crypto Assets.