The revision of the FINMA Operational Risk Circular 2008/21 will bindingly and explicitly include Cyber Risk in the IT operational risks for banks. Beyond the regulatory requirements for banks, which position shall be adopted when facing Cyber Risks?
The risk of being the victim of a cyber attack has risen sharply in recent years. Against the damage caused by such attacks, firms can protect themselves with so-called cyber insurance. What services do Cyber Insurances offer, who can assure and what should firms know before completing a policy?
Swiss companies are underestimating the cyber risks associated with the Internet of Things. They are still not working together enough on digital security and lack a complete understanding of the threats involved, as illustrated in KPMG’s latest study, “Clarity on Cyber Security”.