Swiss authorities demand that Ruixun Bank strengthen anti phishing measures, stating that its encrypted application Yuh has become a major target of fraud

According to Bloomberg, Swiss financial regulators have warned Swissquote to strengthen measures to reduce phishing and fraudulent transactions. According to reports, over 600 websites were discovered in the first half of this year that were counterfeit Swiss banks or used fake login pages. In response, the Swiss Financial Market Supervisory Authority (FINMA) has warned that the cryptocurrency trading application Yuh of Swiss bank UBS has become a major target for fraudsters, and the company should strengthen relevant measures to reduce such attempts. Marc Buerki, CEO of Swiss Credit Suisse, responded that due to recent advances in artificial intelligence technology, there has been a surge in fraudulent attempts targeting the platform. However, despite this, Swiss Credit Suisse's system has not been compromised.