Switzerland
FINMA made more than 300 entries on its warning list in 2025
At its annual press conference, the Swiss Financial Market Supervisory Authority said it had made more than 300 entries on its warning list in 2025, a record. It opened some 450 investigations into companies and individuals that may be carrying out activities requiring authorisation without being authorised.
A listing is not a court ruling. It flags a company whose activity, in FINMA's view, appears to require an authorisation that it does not hold.
In practiceBefore sending money to a platform, search for its name and the exact address of its website on the FINMA warning list, then check whether it appears among the authorised institutions.
According to FINMA, annual press conference, 21 April 2026.