Wealth Briefing: Julius Baer Has More Client Data Stolen - Spear's Magazine

Wealth Briefing: Julius Baer Has More Client Data Stolen

Yet another Switzerland-based bank has fallen victim to the theft of client data, with Zurich-listed Julius Baer reporting loss of information concerning German customers, according to media reports

Yet another Switzerland-based bank has fallen victim to the theft of client data, with Zurich-listed Julius Baer reporting loss of information concerning German customers, according to media reports.

“According to what we know, this is the case,” chief executive Boris Collardi told the SonntagsZeitung newspaper at the weekend. “As part of our stepped-up controls and a thorough internal investigation we recently discovered a case of data misuse and were able to identify the alleged thief.”

The publication said the stolen data on clients found its way into the hands of tax investigators in the German state of North Rhine Westphalia, with the thief paid an undisclosed sum. The suspect, a bank employee working in Zurich, acted alone and has been arrested, the paper said.

To read the full story, visit wealthbriefing.com

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