Data Theft Involves 24,000 Swiss Bank Clients
DATA THEFT—SWITZERLANDMarch 12, 2010
A security breach at a private bank in Switzerland is much more serious than was first believed, with personal information on about 24,000 clients compromised during the theft in 2006, the Financial Times reports. HSBC has confirmed that the theft, which was uncovered last year, affects 15 percent of the bank's total private client base, the report states. The data was stolen by a former IT specialist who then provided it to French tax officials. Although the authorities had used the stolen data to launch a crackdown on tax evaders, the report states that they have since returned those files to the Swiss federal prosecutor, which is leading a criminal investigation.