HSBC denies it ignored warning on Swiss data

HSBC has rejected claims by a former employee that it ignored his warnings on data he took from its Swiss private bank in 2006…

HSBC has rejected claims by a former employee that it ignored his warnings on data he took from its Swiss private bank in 2006 and 2007.

IT specialist Herve Falciani, an ex-HSBC employee accused of handing data taken in 2006 and 2007 to the French, told Le Figaro he had passed the information to French tax authorities after it was ignored by his bank and the Swiss government.

An HSBC spokesman said that there was "zero" about any warnings from Mr Falciani, and said the comments were his defence against the charges. The bank last week confirmed that data was stolen by an ex-employee and said it continued to work with authorities on the criminal inquiry.

The Swiss state prosecutor's office could not immediately be reached for comment.

Mr Falciani told the paper: "My suggestions were not listened to. I was constrained, under pressure at the bank," adding that his aim had been to effect change because he was worried over security standards at the bank and felt loyal to France.

"At the end of 2006, I alerted Swiss authorities. Following a lack of response from (Switzerland), I approached other authorities," he added, saying he did not want to specify which countries he had addressed.

A global crackdown on tax havens has forced Switzerland to loosen its cast-iron bank secrecy regime, but the HSBC data transfer caused a diplomatic spat with France.

France has defended its decision to accept stolen data, with budget minister Eric Woerth saying the government had not broken French law.

Switzerland hit back by threatening to freeze a treaty aimed at helping France catch tax cheats, and demanded France hand back the data. HSBC has filed a criminal complaint with Swiss authorities over the theft.

Mr Falciani said in the newspaper interview he had not been paid for his services and had told authorities it was not money he was after.

"I want this investigation to be pursued and I want French interests to be protected," he said.

Reuters