AI Fuels 600 Swissquote Scams, Regulators Step In

- Regulators order Swissquote to bolster defenses against phishing and impersonation scams. - Authorities uncovered over 600 fake websites in the first half of 2025, with AI driving fraudulent campaigns. On July 1, 2025, Bloomberg and Cointelegraph reported that Swiss regulators ordered Swissquote, a leading online trading platform, to strengthen its anti-fraud measures following the discovery of over 600 phishing and impersonation scams targeting its services. The directive addresses a surge in cyber threats, as artificial intelligence enables scammers to orchestrate sophisticated fraudulent campaigns with greater ease. Swissquote CEO Marc Buerki acknowledged that AI makes it simpler to create such scams, contributing to the rise in fraudulent activity. Despite these challenges, Buerki reassured stakeholders that Swissquote’s internal systems remain uncompromised. However, scammers have significantly targeted the Yuh app, a financial application with cryptocurrency trading capabilities that Swissquote co-developed with PostFinance AG. These events highlight the mounting challenges digital asset platforms face in preserving trust and security. While the regulatory mandate aims to fortify Swissquote’s anti-fraud capabilities, it also underscores the broader fraud trends affecting the crypto industry. So far in 2025, scams ranging from phishing schemes to social engineering and fake websites have cost investors billions and deterred their confidence. Such incidents show that platforms must urgently innovate and adapt their security frameworks to meet evolving cyber risks, which is especially critical as AI continues to revolutionize both legitimate tools and cybercrime tactics.