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?
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”.
While companies have been and are still investing in various cybersecurity projects, sometimes with lukewarm results, the management of insider threats is either left aside or is dealt with in a way that is far not effective. Most of all, some “improvements” can be even counterproductive.