SMG makes targeted investments in digital security

Cybercrime is a growing risk in Switzerland. The latest figures from the Federal Statistical Office (FSO): In 2024, 59,034 crimes involving digital crimes were registered, more than doubling since 2020. Cybercrime accounts for over 90 %, including hacking, fraud on classified ad platforms and phishing - risks to which online platforms are inherently exposed.

The SMG Swiss Marketplace Group is responding to this development and considers itself responsible. That is why it invests millions every year in state-of-the-art security technologies, prevention work and user education.

SMG with integrated security architecture on several levels

SMG relies on a security strategy that combines technology, prevention and cooperation with authorities and specialist alliances. These include:

• Digital identity & login: Introduction of passwordless login and adaptive multi-factor authentication (MFA) on several platforms. Ricardo is one of the pioneers in Europe with "Smart Push MFA".
• Risk-based security approach: Decisions are based on rule-based, increasingly AI-supported assessments for context-related security, depending on the action and user behavior.
• Cross-platform collaboration: Insights and security solutions are used across platforms to provide maximum protection across the entire network.
• Verification by means of Know-Your-Customer (KYC): Semi-automated identity verification; now fully autonomous on the General Marketplaces.
• Close collaboration with law enforcement authorities: Including an automated portal that considerably speeds up the exchange with authorities.
• Commitment to standards: Memberships of digitalswitzerland and the FIDO Alliance underline the commitment to digital security at national and international level.

Phishing and prevention: raising awareness is key

Phishing remains a popular gateway for fraudsters - often via deceptively genuine websites, for example for fake parcel services or payment portals. According to the FSO, the number of such attacks rose by 56.2 % in 2024. The "antiphishing.ch" platform even recorded over 975,000 suspicious activity reportsThis enabled 20,872 phishing websites to be identified (+108 % compared to the previous year). In around two thirds of cases, Swiss brand names, including Ricardo, were misused.

SMG has its own process for the rapid removal of fraudulent websites. Nevertheless, it is not technically possible to completely prevent phishing attacks. SMG therefore relies on targeted user education - with campaigns, platform information, FAQs, social media, newsletters and blog posts. In addition, SMG is conducting national awareness campaigns together with Swiss Crime Prevention (SCP) to draw attention to the risks of classified ad fraud.

SMG also promotes security awareness among its employees: An open security culture is established with the annual "Cybersecurity Month", ongoing internal training and a bug bounty program that also rewards external tips.

Maximum security when buying second-hand

Since 2024, the Ricardo platform has offered an additional, optional security function with "MoneyGuard". This makes private online transactions even more secure and trustworthy, which promotes sustainable trade in second-hand products. MoneyGuard protects buyers and sellers alike: Payments are made before shipping, but are only released once receipt and quality of the goods have been confirmed - protecting against forms of fraud such as non-delivery, non-payment or wildly differing product descriptions. Thanks to all security measures, including MoneyGuard, the fraud rate on Ricardo was reduced to less than 0.3 % of all transactions in 2024.

Digital security remains the focus of SMG

The threat situation in the digital space will remain dynamic in the future. The actual number of cyber fraud cases is also likely to be far higher than the figures reported by the FSO. For SMG, digital security is therefore an ongoing task with the highest priority. Protection mechanisms will continue to be developed on an ongoing basis, rolled out across platforms and invested in raising awareness among users and employees.

Source: Swiss Marketplace Group