HSBC disclose information on its employees

22.08.2012

The Swiss branch of HSBC Bank provides the USA information on its employees, worked or still working with American clients on the territory of Switzerland.

From the beginning of April, according to the press-center of the Bank, about 10,000 files which contain correspondence and records of telephone calls between the Bank staff and American clients were transferred to the United States Department of Justice. Some of these data were used to identify the specific Bank employees. The transfer of such information is connected with bringing of pressure by the U.S. government on the management of the Bank.

However, officers of the HSBC decided to protect their rights and began the trial on the given fact. In response, the Swiss branch of the Bank limited the number of business trips of the employees in the United States to grant the United States a shorter amount of information.

Expert’s opinion

Strange policy of the Bank HSBC: instead of esteeming the reputation and attracting wealthy American clients, the Bank simply discloses the information on its employees. And there is normal  and in principle not new in the banking practice to render the information on its client, but the information on its employees!

First of all, such behavior of the Bank’s management is connected with the fact that the USA authorities have repeatedly accused of HSBC in the concealment of the transaction, for example, a recent scandal concerning Mexico, which even has been the occasion for the meeting of the special Committee of the U.S.Congress. And this is not the first scandal; let us remember the case of Ms. Bongo-Astier, considered in the report on the fight against money laundering and corruption from 4 February 2010.  Standing in front of choice, to lose the already shaky credibility of the U.S. government, or help him and to restore calm in the relationship, the Bank choses the second option, and it seems to be not lost.

For the sake of «peace» with the United States one of the largest Banks with an excellent reputation and decided to disclose the data of their employees. Staff’s reaction followed immediately: what will be the result of the struggle for their rights is not clear, however, but there is no doubt, HSBC has its not the best of times.

I would like to appeal to our clients: before opening an account in a foreign Bank, check up if the Bank deals with the Americans, and what is the relationship of the Bank with the U.S. government, and whether or not to adopt such rules of the game.

On the basis: http://www.swissinfo.ch/eng/business/HSBC_transfers_more_data_to_the_US.html?cid=33314538

Julia Nepomnyaschikh ( the paralegal of Moscow office of Honest & Bright)