Security and cyber risks

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The concentration of valuable companies and wealthy individuals in a small canton creates security risks. Cyber attacks against Swiss companies and authorities have increased in recent years. In 2023, an attack on an IT supplier of the federal administration exposed sensitive data of federal authorities.¹ Commodity traders, crypto companies and wealth managers are attractive targets for criminals and state actors, since they hold valuable data and assets. The crypto industry has suffered several hacks in which tokens worth millions were stolen.

While the canton and the companies have invested in cyber security, the Confederation has created a Federal Office for Cyber Security.² The protection of wealthy residents and their families is a further concern, handled by private security firms and the police. These risks are unlikely to change the location decisions of most companies, but they add to the costs of operating in the canton. A major cyber incident affecting the financial or commodity infrastructure could damage the canton's reputation for security and stability.

Notes

Federal Council, press release "Hackerangriff auf Firma Xplain: Bundesrat mandatiert politisch-strategischen Krisenstab 'Datenabfluss'", 28 June 2023, admin.ch: ransomware attack on the IT service provider Xplain affected data of the federal administration; Federal Office for Cyber Security (BACS), press release "Hackerangriff auf Firma Xplain: Bericht ... zur Datenanalyse publiziert" (2024), ncsc.admin.ch: data published on the darknet by the group "Play" on 14 June 2023, about 1.3 million objects, of which about 65,000 relevant to the federal administration. ↩
Federal Council, press release "Meldepflicht für Cyberangriffe auf kritische Infrastrukturen", 7 March 2025, admin.ch: operators of critical infrastructure must report cyber attacks to the Federal Office for Cyber Security (BACS) within 24 hours, from 1 April 2025. BACS operational since 1 January 2024 as successor of the NCSC (Federal Council decision of 2 December 2022; de.wikipedia.org, "Bundesamt für Cybersicherheit"). ↩

For general information only. This article does not constitute legal or tax advice, does not replace advice on an individual case and creates no lawyer-client relationship. It reflects the legal position as of September 2025.

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Dr Alexander Ressos, TEP

Rechtsanwalt/Attorney-at-Law

I am a Swiss attorney-at-law and also admitted as a solicitor in Hong Kong and in England & Wales, with almost 25 years of experience.

Together with my multilingual team, including Chinese, Japanese, Korean, Russian, Ukrainian and French native speakers, I advise companies and their owners from around the world on the full range of banking, corporate, commercial and tax law matters in Switzerland, including international tax planning, fiduciary services, and legal family office services including immigration & relocation or real estate investments. My practice has a particular focus on clients from growth and frontier markets in Greater China, Central Asia and the Caucasus, the rest of Asia, the Middle East, Africa and Latin America, and I equally advise clients from Europe and North America. Through an affiliated Swiss trust company, we also take care of the incorporation and ongoing administration of their companies and other structures, including accounting, tax returns and corporate secretarial services, and I serve as a professional director where required. With the support of a network of first-class cooperation partners, I also implement solutions worldwide.

My approach is to act as a trusted advisor who works directly with decision-makers, on an equal footing: I start from what you want to achieve and shape every structure, contract and tax decision around your commercial goals and how it improves your after-tax return. As “lawyers who make it happen”, my team and I stay involved until your company is set up, your structure is in place and your transaction has closed, and we remain available for any follow-on work that may be required. You benefit from bespoke solutions and personal attention, and sound, friendly and practical advice. We are not the lowest-cost provider in the market, nor do we intend to be; our aim is to deliver well-founded, proper solutions and excellent value for money.

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Security and cyber risks

Notes

Setting up or expanding in Switzerland?