CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Swiss Court Announces Sentence For HSBC Data Leak

Swiss Court Announces Sentence For HSBC Data Leak

by Ulrika Lomas, Tax-News.com, Brussels

02 December 2015


Hervé Falciani, who leaked details of accounts held by his former employer HSBC Private Bank in Switzerland to foreign tax authorities, was convicted while absent for economic espionage by the Swiss Federal Criminal Court. The Court's written opinion has yet to be published.

The Court sentenced Falciani to five years in prison. He was cleared of others charges of data theft and violating commercial and banking secrecy. As a French and Italian citizen residing in France, however, he cannot be extradited to Switzerland.

HSBC welcomed the judgment stating that the ruling demonstrated that the leak of the data was for the "sole purpose of reselling them for his own enrichment." Adding: "The evidence received by the Court show that the intentions of Hervé Falciani were not those of a whistleblower."

An appeal may be filed with the Federal Court.

TAGS: tax | banking | banking secrecy | France | Switzerland

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »