The case
Source: Finma
The commentary
FINMA has published its findings from its supervisory activities in the area of cyber risks in guidance. It also provided further details on the obligation to report cyber attacks and scenario-based cyber risk exercises. According to FINMA outsourcing is a risk driver: In 2022 and 2023, more than half of the reported cyber attacks involved outsourced services. FINMA also frequently identifies weaknesses in this area as part of its supervisory activities with regard to cyber risks. In addition to outsourcing, there is a recurring focus on other topics, such as governance in dealing with cyber risks.
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