News

Press release
2010

FINMA is investigating the data stolen at HSBC

In December 2009, media reports covering the investigations that have been carried out since May 2008 by the Office of the Attorney General into the noted case of client data stolen at the HSBC Private Bank (Suisse) SA in Geneva claimed that possibly more clients may have been affected than previously assumed. Since then FINMA has been in close contact with HSBC and the responsible federal authorities. Suspicion that the client data stolen was extensive was finally confirmed at the beginning of March 2010 when the Office of the Attorney General granted access to HSBC to the data handed over by the French legal authorities.

FINMA has subsequently instigated formal administrative proceedings against HSBC. It is investigating how in 2007 a data theft to this extent could have happened and if the organisational and technical measures implemented by HSBC since this incident to prevent such occurrences comply with the legal requirements.

FINMA will publish the outcome of the proceedings. During the investigations, however, no information will be disclosed on the different stages of the proceedings.

Contact

Tobias Lux, Media Spokesperson, Phone +41 (0)31 327 91 71, tobias.lux@finma.ch 
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