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.
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.
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