Bloomberg News reports that the Paris employment tribunal ordered HSBC to pay Ben Lazimy the compensation after he was fired for sending a 1,400-page spreadsheet with all of HSBC’s equities transactions in 2010, a list that included client names and margins. A court official gave the ruling by phone and the court’s full opinion won’t be available for weeks.
Banks are under growing pressure to secure their data after high-profile cyber attacks against JPMorgan and HSBC led to the loss of millions of customer records. One of the most severe risks for a data breach comes from employees, who might unwittingly upload a virus or be blackmailed into helping an attacker.
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