IMF Staff Country Reports

Cyber security is recognized as one of the major risks in Switzerland by both authorities and
financial market players. With the advancement of digitalization in Switzerland, cyber incidents
have been increasing in frequency and sophistication, including in the financial sector. Both the
Swiss National Bank (SNB) and the Swiss Financial Market Supervisory Authority (FINMA), the key
institutions overseeing cyber risk, are tagging it as a significant threat to the financial sector.