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Switzerland announces new cyber-attack reporting requirement for financial institutions

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Dr Vaïk Müller | CMS

2 min read
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Ordinance sets out obligation to report cyberattacks on critical infrastructure.

On May 22, 2024, the Swiss Federal Council released its draft ordinance implementing the reporting requirement in the event of cyber-attack as set out in the Information Security Act. The public consultation will last until September 13, 2024. This new reporting requirement is expected to apply from January 1, 2025.

The Information Security Act contains a

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