FINMA Chief Warns Of Growing Money Laundering And Sanctions Risks In Switzerland

On the 5th of May, 2025, Stefan Walter, the CEO of the Swiss Financial Market Supervisory Authority (FINMA), Switzerland’s financial market watchdog, declared that the nation still faces significant risks from cyberattacks and money laundering.

He pointed out the higher risk of individuals and companies more people and companies are trying to get around Russia’s financial sanctions.

Walter stated that money laundering risks are no longer limited to Switzerland’s top banking institutions.

“These money-laundering threats were growing significantly for medium-sized and smaller banks,” he shared these remarks at an event in Zurich.

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Walter said that as the system persists, the higher likelihood of people and businesses avoiding sanctions tied to Russia increases.

As per his statement, “Against this backdrop, the associated risks for financial intermediaries increase,” those who handle money are more vulnerable.

Interestingly, in its 2024 Risk Monitor Report, the Swiss Financial Market Supervisory Authority (FINMA) has identified a number of threats or risks that financial institutions must contend with. These risks range from growing cyber threats and geopolitical tensions to persistent vulnerabilities in the financial sector.

The agency issued a warning in its study that cryptocurrency, especially stablecoins, is becoming more and more associated with money laundering and other illicit activities.

Financial regulators are increasingly concerned about their usage in dark web transactions and sanctions evasion.

“FINMA takes institution-specific measures to mitigate the money laundering risk in relation to digital assets,” the agency stated.

The Risk Monitor 2024 draws attention to how crucial it is to not only abide by current regulations but also promptly adjust to any new ones, particularly when it comes to data security and emergency preparedness.

Additionally, the report shared that these measures are designed to decrease risks while still ensuring compliance with anti-money laundering legislation..