Switching Regulator Current Conversion
A switching regulator can indeed provide a higher current at a lower voltage (compared to its input). 

The mechanism of a SMPS is a cycle where an inductor is first 'charged' with magnetic energy (from the input side), and then discharged into the output side. Each side needs a capacitor to smooth these current peaks. With a higher voltage less (average) current is needed to built up a certain amount of magnetic energy than with a lower voltage, hence at the lower voltage the (average) current will be higher.

With a standard down converter there is also the effect that during the charge part of the cycle (dark blue arrow) the current flows through the inductor, but also into the output. Hence the output current must be higher than the input current, because the discharge cycle adds to this current.