Ransomware (extortion): Fiduciary services, Switzerland 2021
On 10 October 2021, hackers tried to break into the IT of the fiduciary office, which works for around a dozen municipalities in the region.
- Incident · 10.2021 · Morges VD, Switzerland
- Evidence: one media report
- Ransomware (extortion)
As of
What happened
They demanded 180'000 to 200'000 francs and threatened to publish financial and budget data on the darknet; on 22 October a 48-hour ultimatum followed. According to GRF, only two non-sensitive files were lost, nothing was exfiltrated and nothing was paid.
- Affected
- GRF Sociétés fiduciaire
- Industry
- Fiduciary services
- Loss
- Ransom demand of 180'000 to 200'000 francs
- Business interruption
- unknown
- Ransom demanded / paid
- yes / no
- Data affected
- according to GRF, only two files without sensitive information lost
- Bankruptcy
- no
- Entry point
- Attempted intrusion into the IT (route not stated)
What would cyber insurance have paid?
That depends on the terms. Whether those affected were insured: unknown.
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Help and negotiation; only some insurers pay the ransom, see note
Mostly add-on 6 of 9 business products cover it fully, as an add-on or with limits.
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Immediate help in an emergency
Hotline, IT forensics, crisis PR and legal advice
Mostly covered 7 of 9 business products cover it fully, as an add-on or with limits.
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Third-party claims after a data breach
Liability for data protection and network security breaches
Mostly covered 7 of 9 business products cover it fully, as an add-on or with limits.
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Letters, call centre, credit monitoring
Mostly covered 6 of 9 business products cover it fully, as an add-on or with limits.
Overview based on public policy terms, as of 06.11.2026. Only your policy and its general terms and conditions (GTC) are binding. No confirmation of cover.
What we can learn
Fiduciaries hold data of many clients; even a threat triggers investigations for all clients.
Sources
- Cyberkriminelle greifen Westschweizer Treuhandunternehmen an (opens in a new window) Netzwoche (gestützt auf Der Bund) · 19.11.2021
«Danach forderten sie ein Lösegeld in der Höhe von 180'000 bis 200'000 Franken und drohten mit der Veröffentlichung sensibler Daten im Darknet.»