SWITZERLAND Law and Practice Contributed by: Lukas Morscher and Lukas Staub, Lenz & Staehelin
29,314 criminal fraud offences were recorded in Swit - zerland in 2022. FINMA’s general enforcement actions in the fintech industry are described in 2.10 Signifi - cant Enforcement Actions . 12.3 Responsibility for Losses The liability of a financial services provider has to be assessed based on the specific contractual arrange - ments it has in place with a given client. Generally speaking, under Swiss law a contractual counterparty becomes liable if it has breached its contract with the customer and has thereby caused the customer dam - age in a so-called adequately causal manner – provid - ed that it cannot prove that no fault is attributable to it.
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