Sunday 14 March 2010

HSBC admits huge Swiss bank data theft

Today, when I read an introductory of the assignment paper, I found this article is related to what's Ariley mentioned in his study.

According to article "HSBC admits huge Swiss bank data theft ",the personal details of HSBC's private banking in Switzerland was stolen by a former employee. However, HSBC had invested 100m Swiss francs in order to upgrade and improve the security of its data systems. In this article, the author state that the reason which some bank employees stealing account data is to pass the information to tax authorities.The US and some countries in Europe want to crack down on tax evasion for the sake of public interest.

In my opinion,this article shows about dishonesty of the people. Not only the bank employee dishonest to his customer by selling their financial information to goverment, but also the people who commit tax evasion are dishonest to their country.
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References
HSBC admits huge Swiss bank data theft.(2010, March 11). The BBC News. Retrieved March 14, 2010 from http://news.bbc.co.uk/2/hi/business/8562381.stm

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