Faced with cyber risks, the financial center can do better

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Gaps in cybersecurity in finance. This was noted by the Federal Audit Office (CDF) in its audit of the supervision of Finma, the financial markets authority, made public on Monday evening.

According to the CDF, “the overall system in Switzerland is progressing only modestly”. Analysts from the federal finance officer deem the directives of Finma “appropriate”. But they point to several examples of the shortcomings, including “an operational crisis organization still being put in place” and “regular intersectoral exercises on cyberattacks carried out only once”.