
Swiss Regulator FINMA Urges Financial Watchdogs To Adopt AI To Counter Cyber Risks
Swiss financial regulator FINMA has called on banks and market watchdogs to accelerate the adoption of artificial intelligence (AI) tools to address cybersecurity risks and strengthen oversight of financial systems.
Marlene Amstad, President of FINMA and chair of an international forum on supervisory technology, said regulators need to keep pace with the rapid use of AI by cyber attackers. She was speaking after a hackathon organised to develop AI-based tools for financial market supervision. FINMA has helped establish a forum within the International Organization of Securities Commissions (IOSCO) to encourage the use of AI by regulators overseeing around 95% of global financial markets.
Around 100 policy and technology specialists participated in the event, focusing on tools for crypto-market supervision. Regulators are also examining the possibility of embedding safeguards into digital asset systems.
Amstad said access to advanced AI models remains important for Switzerland, adding that AI can help identify vulnerabilities and improve the resilience of financial systems before deployment.




