Swiss Financial Market Supervisory Authority: Blockchain exacerbates Swiss money laundering risks

The Swiss Financial Market Supervisory Authority (FINMA) warned in its 2019 risk monitoring report that the increased efficiency of blockchain technology may attract banks, but its anonymity and transaction speed also attract money launderers and those wishing to provide for terrorism Funding people. FINMA said that shrinking profit margins may also force some banks to accept new customers who are financially attractive, but they are coming from emerging countries where there is “strong risk”.