Mr. Falciani is a former IT employee at the Swiss subsidiary of HSBC Private Bank (Suisse) SA that, according to the bank and French authorities, “obtained” sensitive customer information and hand it to the tax authorities in France. The data theft took some time until it was discovered and the bank was suffering some issues.
This is all history now…. The assets are up as HSBC Private Bank shrugs off data theft. The Bank also reported that it has spoken to almost all current clients that were affected by a data theft.
I’m sure that now, ANY bank is taking data protection and activity monitoring more seriously. Having said that, I do not think for a second that the risk management and security teams at the bank did not take such issues seriously. Working with different security teams for over a decade, I am sure that they were trying to do the right things for ever. Thanks to folks like Herve, the “risk” factor in data security risk management is more clear and security teams can spend what they need in order to improve security.
On a second thought, I’m sure that many security vendors and consultants also thank Mr. Falciani.