Switzerland to Launch Transparency Register in October
Switzerland confirmed it will launch a corporate transparency registry in October despite industry warnings following a recent cyber attack in Liechtenstein. The government maintains that adequate security measures are in place to protect sensitive data.
Switzerland will launch a corporate transparency registry on October 1, dismissing industry warnings sparked by a massive data breach in Liechtenstein last month. The planned rollout follows a July cyber attack that compromised records for 31,000 entities in the neighbouring principality. Switzerland aims to bolster financial crime prevention, despite wealth managers arguing the database presents severe security risks.
