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Old 11.03.2010, 10:48
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HSBC Private Bank Suisse Says 15,000 Affected by Data Theft

2010-03-11 08:17:55.560 GMT


By Clementine Fletcher
March 11 (Bloomberg) -- HSBC Private Bank (Suisse) SA says
it has suffered “serious data theft” affecting about 15,000
Swiss-based accounts. The bank said it doesn’t believe the
stolen data has, or will, allow any third party to access client
accounts.
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Old 11.03.2010, 10:59
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Re: HSBC Private Bank Suisse Says 15,000 Affected by Data Theft

germans again? The CEO denied it only a few days ago... source
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Old 12.03.2010, 19:44
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Re: HSBC Private Bank Suisse Says 15,000 Affected by Data Theft

Telegraph said it was 24'000.

http://www.telegraph.co.uk/finance/n...0-clients.html

What do you FINMA will do? Anything? Just look the other way Swiss Style..
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Old 13.03.2010, 09:25
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Re: HSBC Private Bank Suisse Says 15,000 Affected by Data Theft

Thought about this last night.

FINMA will bring criminal charges.
FINMA will lightly fine them; something fitting for the worst breach in the what Switzerland's 180 year history; although ok lets be honest swiss banking secrecy has only been around for 100 years.
FINMA may even revoke their private banking banking license if they find them really negligent, can't comment on their controls; although I would be very surprised if FINMA don't come back with findings on a lack of due diligence.
FINMA may also revoke their licence if too many criminals are dug up in their list of 24K customers...

HSBC PB itself may cease to trade after getting the mother of all fines
HSBC PB itself may also cease to trade after it loses 50% of its customers, they admitted losing 25% of the customer base; so assuming most of them leave; a good number of others will too.
HSBC may see a departure of a number of staff prior to any publication of findings; some to escape prosecution, some to jump out of a sink ship.

The EURO mole will disappear as did his LGT colleague to live a new life.
The EURO tax authorities will have a field day; find, fine and maybe even jail some tax dodgers.

One or more HSBC customers may sue HSBC PB for breach of contract as a LGT one did for damages...

Any other thoughts, anybody...

Last edited by Slaphead; 25.03.2010 at 10:28. Reason: Removed potentially libellous content.
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Old 09.03.2015, 13:52
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Re: HSBC Private Bank Suisse Says 15,000 Affected by Data Theft

Looks like none of your predictions have come true Interesting to read this thread 5 years later though.
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Old 09.03.2015, 15:59
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Re: HSBC Private Bank Suisse Says 15,000 Affected by Data Theft

I dont recall, but I am not sure I wrote all those predictions; but are you sure FINMA did nothing in the end to HSBC. No fine, no restrictions on doing business, truly nothing..
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