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HSBC employee steals details of Swiss private bank accounts

LONDON – A former HSBC employee has stolen the account data of 24,000 clients from its Geneva private bank, the UK bank has admitted.

Herve Falciani, formerly a computer specialist at HSBC, confessed to stealing client data from the bank before fleeing and passing it on to French tax authorities. The firm’s private banking unit said initially that less than 10 accounts were affected, but it has

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Emerging trends in op risk

Karen Man, partner and member of the global financial institutions leadership team at Baker McKenzie, discusses emerging op risks in the wake of the Covid‑19 pandemic, a rise in cyber attacks, concerns around conduct and culture, and the complexities of…

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