Finma warns of weaknesses in asset management companies that expose companies to the risk of cybercrime.
In a guidance document published today, the regulator highlighted the operational risks it faces within financial institutions. Risk is defined as financial losses due to the failure of internal systems or inadequate actions of people, as well as as a result of external events. While this includes the risk of financial loss due to legal or compliance risks, it does not include strategic risks.
The regulator emphasized that supervised Swiss institutions face increasing risks due to digitalization.