{
  "title": "Switzerland: Financial Sector Assessment Program-Technical Note on Cyber Risk Supervision",
  "publication": "IMF Staff Country Reports, November 13, 2025",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2025/11/13/switzerland-financial-sector-assessment-program-technical-note-on-cyber-risk-supervision-571799",
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  "summary": "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.",
  "publishDate": "2025-11-13",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Publication date: November 13, 2025\n- Core message: Cyber security is recognized as one of the major risks in Switzerland by both authorities and financial market players.\n- Context: With the advancement of digitalization in Switzerland, cyber incidents have been increasing in frequency and sophistication, including in the financial sector.\n- Supervisory emphasis: 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."
    },
    {
      "heading": "Key findings",
      "content": "- Cyber security identified as a major risk by authorities and financial market participants.\n- Cyber incidents are increasing in frequency and sophistication in Switzerland.\n- Financial sector affected: cyber incidents include impacts on the financial sector specifically.\n- Regulatory/supervisory recognition: SNB and FINMA both regard cyber risk as a significant threat to the financial sector."
    },
    {
      "heading": "Subjects and keywords",
      "content": "- Subject: Cyber risk, Economic sectors, Financial regulation and supervision, Financial sector, Operational risk, Technology\n- Keywords: Cyber risk, financial market supervision, Financial sector, Global, IMF staff, market infrastructure, Operational risk, staff team, supervision Act\n\nInternational Monetary Fund. Monetary and Capital Markets Department \"Switzerland: Financial Sector Assessment Program-Technical Note on Cyber Risk Supervision\", IMF Staff Country Reports 2025, 296 (2025), accessed 9/23/2026, https://doi.org/10.5089/9798229031103.002\n\n---\n\n Content in this bundle\n\n- 1cheea2025005-source-pdf\n  - 1cheea2025005-source-pdf (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1cheea2025005-source-pdf (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2025/11/13/switzerland-financial-sector-assessment-program-technical-note-on-cyber-risk-supervision-571799"
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    "Published: November 13, 2025",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798229031103.002",
    "Publication date: November 13, 2025",
    "Core message: Cyber security is recognized as one of the major risks in Switzerland by both authorities and financial market players.",
    "Context: With the advancement of digitalization in Switzerland, cyber incidents have been increasing in frequency and sophistication, including in the financial sector.",
    "Supervisory emphasis: 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.",
    "Cyber security identified as a major risk by authorities and financial market participants.",
    "Cyber incidents are increasing in frequency and sophistication in Switzerland.",
    "Financial sector affected: cyber incidents include impacts on the financial sector specifically.",
    "Regulatory/supervisory recognition: SNB and FINMA both regard cyber risk as a significant threat to the financial sector.",
    "Subject: Cyber risk, Economic sectors, Financial regulation and supervision, Financial sector, Operational risk, Technology",
    "Keywords: Cyber risk, financial market supervision, Financial sector, Global, IMF staff, market infrastructure, Operational risk, staff team, supervision Act",
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