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HSBC Private Bank in Switzerland recently spent over £60million on improved security for its systems, want to have a guess why? Yep, they got compromised by an IT technician who stole unencrypted customer account data and posted it to third parties. So first things first, if you’ve got an account with HSBC in Switzerland, you might want to ring your relationship manager and check all the pennies are in their place.

The news of the theft emerged this week as the FSA released the findings of it’s investigation, which stated the crime occured in 2006 and HSBC only found out about it in December 2008. The personal details of an estimated 24,000 clients of HSBC Private Bank in Switzerland were stolen and HSBC says that the stolen data is “highly likely” to contain info on British account holders.

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