HSBC hero banker said charged with industrial espionage

Computer Hacker

A low blow.

A former computer technician for HSBC 'celebrated as a hero abroad' was indicted in Switzerland on charges of industrial espionage and violating the country’s bank secrecy laws, prosecutors said.

Bloomberg reports that the Swiss Attorney General’s office, without identifying the suspect as is its custom, said in a statement on Thursday that the country was prepared to try him in absentia.

The statement refers to Herve Falciani, the technician accused of stealing client data in 2008 from HSBC’s Geneva office and passing it to French authorities, said a person with direct knowledge of the case who asked not to be identified.

HSBC was charged in France last month with money laundering through tax fraud and illegal marketing in a case stemming from the data theft. The bank faces a similar investigation in Belgium and last month agreed to pay $12.5 million to settle claims with the Securities and Exchange Commission that its Swiss private-banking unit solicited U.S. investors without being registered.

Hit the link below to access the complete Reuters article:

Ex-HSBC Employee Falciani Said Indicted on Data Theft

Bank of Korea Mulls Cutting Growth Forecast as Headwinds Build

JefferiesAnd the Best Place to Work in the global financial markets 2016 is...

Register for Financial Markets News Alerts