Swiss Financial Market Supervisory Authority publishes guidance calling for stronger operational risk and anti-money laundering controls against digital fraud

The Swiss Financial Market Supervisory Authority (FINMA) published new guidance on digital fraud risks, concluding from a targeted survey that banks and persons under Article 1b of the Banking Act need to strengthen their approach, particularly in operational risk management and the prevention of money laundering. FINMA linked the rise in digital fraud cases it has observed since 2022 to the growth of digital banking services, noting that fraud affects banks both through client losses and through the misuse of bank accounts to launder proceeds of fraud. The guidance summarises findings from an end-2025 survey of 19 banks across supervisory categories and sets out expectations for an appropriate risk management framework that covers all business activities and enables significant risks to be identified, assessed, managed and monitored, including fraud risks in online client onboarding and unauthorised account access.