Federal Council reviewing recommendations of advisory board for future of financial centre concerning Swiss financial centre's cybersecurity

Bern, 08.12.2017 - During its meeting on 8 December 2017, the Federal Council took note of the recommendations of the advisory board for the future of the financial centre to improve the Swiss financial centre's system for countering cyberattacks. It also instructed the Federal Department of Finance (FDF) to review two recommendations.

In 2016, the advisory board for the future of the financial centre identified cybersecurity as one of the key challenges for the Swiss financial centre and triggered corresponding work on the matter. This included the preparation of an international comparison as well as analyses in the area of the exchange of information and the insurability of cyber risks. On that basis, the advisory board adopted three recommendations to improve the framework conditions for the Swiss financial centre regarding cyberspace.

Based on the advisory board's recommendations, the Federal Council instructed the FDF to examine where the cybersecurity-related cooperation already established between the authorities and financial industry specialists can be improved. The FDF is also to investigate whether the existing cybersecurity crisis organisation structures take sufficient account of the specific needs of the financial sector. The results of the review should be incorporated in the 2018-2022 national strategy for the protection of Switzerland against cyber risks (NCS).

The advisory board further recommended ensuring that all financial institutions and relevant third parties have access to the information made available by the Confederation's Reporting and Analysis Centre for Information Assurance (MELANI). The Federal Council believes that the work initiated by MELANI in the meantime already takes account of this recommendation.

Address for enquiries

Roland Meier, Media Spokesperson FDF
Tel. +41 58 462 60 86, roland.meier@gs-efd.admin.ch


The Federal Council

Federal Department of Finance

Federal Department of Finance