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January 4, 2012

WBrief: Sarasin employee arrested after data leak

By Spear's

An employee of Basel-based private bank, Sarasin, has been arrested after leaking private data relating to the family of the chairman of the Swiss National Bank

An employee of Basel-based private bank, Sarasin, has been arrested after leaking private data relating to the family of the chairman of the Swiss National Bank.

The stolen data, concerning currency transactions by the family of Philipp Hildebrand, was handed by the employee to a lawyer with close links to the Swiss People’s Party (Schweizerische Volkspartei, SVP), the Swiss bank announced this morning. The SVP is a right-wing party which has been a critic of the management style of the bank.

According to the employee, who worked in IT support, this lawyer then arranged a meeting with National Councillor Christoph Blocher, which took place on 11 November 2011. Blocher is the former leader of the SVP who still has a heavy involvement in the party.

Sarasin said that the employee had handed himself over to Zurich Cantonal Police on 1 January 2012, and admitted his criminal misconduct to the bank yesterday.

To read the full story, visit wealthbriefing.com

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