Credit Suisse May Have Spied on More Staff, Swiss Newspaper Says
Credit Suisse Group AG may have spied on other employees beyond former star banker Iqbal Khan and its ex-head of human resources, Swiss newspaper SonntagsZeitung reported, citing people familiar with the matter and a probe of the bank’s activities by banking regulator Finma.
The Swiss bank surveilled a former employee in the U.S. as well as an ex-staff member in Asia and Finma is aware of the alleged activities, the newspaper reported, citing the people and an internal bank report. The employees that were allegedly spied on weren’t members of senior management, SonntagsZeitung reported.
Finma said earlier this month it had launched enforcement proceedings against Credit Suisse into alleged spying by the bank against Khan who joined rival bank UBS Group AG. It later emerged that ex-human resources chief Peter Goerke had also been monitored.
A Credit Suisse spokesman told Bloomberg on Sunday that the bank couldn’t comment on the matter due to the ongoing Finma proceedings. The spokesman cited a previous statement that it would fully cooperate with Finma and that “the observation of employees is not part of the culture of Credit Suisse.”
A spokesman for Finma declined to comment, citing the ongoing proceedings.
SonntagsZeitung reported that one of the employees allegedly shadowed by Credit Suisse had threatened other staff and was therefore monitored. The other case could involve two former U.S. workers who had a relationship and may have shared bank information with outside parties, SonntagsZeitung said, citing the people.
The Khan spy scandal tainted the bank’s reputation, led to the ouster of CEO Tidjane Thiam after a power struggle, and rattled the usually quiet world of Swiss banking.
An internal probe ordered by the bank at the time concluded that Thiam didn’t know about the spying, and that Chief Operating Officer Pierre-Olivier Bouee was responsible. Bouee was fired late last year.
Finma said earlier this month it had launched enforcement proceedings against Credit Suisse into alleged spying by the bank against Khan who joined rival bank UBS Group AG. It later emerged that ex-human resources chief Peter Goerke had also been monitored.
A Credit Suisse spokesman told Bloomberg on Sunday that the bank couldn’t comment on the matter due to the ongoing Finma proceedings. The spokesman cited a previous statement that it would fully cooperate with Finma and that “the observation of employees is not part of the culture of Credit Suisse.”
A spokesman for Finma declined to comment, citing the ongoing proceedings.
SonntagsZeitung reported that one of the employees allegedly shadowed by Credit Suisse had threatened other staff and was therefore monitored. The other case could involve two former U.S. workers who had a relationship and may have shared bank information with outside parties, SonntagsZeitung said, citing the people.
The Khan spy scandal tainted the bank’s reputation, led to the ouster of CEO Tidjane Thiam after a power struggle, and rattled the usually quiet world of Swiss banking.
An internal probe ordered by the bank at the time concluded that Thiam didn’t know about the spying, and that Chief Operating Officer Pierre-Olivier Bouee was responsible. Bouee was fired late last year.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
