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The UK's Financial Conduct Authority is investigating former Credit Suisse employees for allegedly sharing confidential information via WhatsApp between mid-2022 and early 2023. The inquiry, which began in February 2023, focuses on the misuse of personal devices for business communications and the use of "disappeared messages." The FCA's findings could lead to fines or bans for individuals involved, as similar breaches have previously resulted in significant penalties for financial institutions.
The UK Financial Conduct Authority is investigating former Credit Suisse employees for allegedly sharing confidential information via WhatsApp between mid-2022 and early 2023. The inquiry, which began in February 2023, focuses on potential breaches of regulatory requirements regarding electronic communications and includes allegations of unauthorized recordings of company executives. If sufficient evidence is found, the FCA could impose fines or pursue criminal charges against those involved.
A Danish woman in debt fraudulently secured a loan of 1.5 million francs from the Banque Cantonale du Valais by changing her name and selling her own apartment to herself. The court found her guilty of forgery but acquitted her of fraud, highlighting the bank's partial responsibility for failing to verify her claims adequately. The case, dating back to 2013, is still under appeal by the bank and is being pursued by the Public Prosecutor's Office.
A Danish woman defrauded the Cantonal Bank of Valais by obtaining a mortgage loan of 1.5 million francs through forgery, selling her apartment to herself after changing her name. The court convicted her but also deemed the bank partly responsible, leading all parties to appeal the verdict. The bank claims the case, dating back to 2013, has been closed for years and insists the situation is more complex than reported.
A Danish woman swindled 1.5 million francs from the Valais Cantonal Bank by changing her identity and selling her apartment to herself, deceiving both a notary and the bank between 2012 and 2014. The court criticized the bank for its lack of diligence, noting it granted the loan despite a lower property valuation and insufficient verification of the woman's falsified documents. The bank has appealed the decision, and the public prosecutor's office is also pursuing the case further.
The FCA is reportedly investigating UBS employees for allegedly using WhatsApp to exchange confidential information, particularly within the research unit of the former Credit Suisse in London, from summer 2022 to early 2023. The investigation, which began in February 2023, involves at least six individuals, with three still at UBS. The FCA's directive since 2021 prohibits the use of private devices for sensitive communications, and violations could lead to fines or criminal charges.
Raiffeisen Bank faced significant IT issues early on Friday, impacting several services, including the "My ELBA" app and branch operations. The bank is actively working to resolve these disruptions and has apologized to customers for the inconvenience caused.
Raiffeisenbank's "Elba" app faced significant outages due to technical issues affecting various IT services, prompting user complaints. Experts are working to restore full functionality, and the bank has apologized for the inconvenience. In a related incident, Erste Bank experienced a similar outage in late November, impacting online banking and card services, which was resolved within three hours, with no evidence of a cyber attack.
UBS's French subsidiary is on trial for harassing whistleblowers Stéphanie Gibaud and Nicolas Forissier between 2008 and 2010, following their reports of the bank's illegal practices. The company faces allegations of moral harassment, witness tampering, and hindering workplace safety committees. Despite being found guilty of tax evasion in previous cases, UBS maintains its denial of wrongdoing.
UBS is on trial in France, accused of harassment against two whistleblowers, Stéphanie Gibaud and Nicolas Forissier, who exposed the bank's illegal tax evasion practices between 2008 and 2010. The case involves claims of inappropriate pressure and retaliation against the former employees. UBS denies the charges, asserting that the allegations are based on events from over a decade ago, while the main proceedings regarding tax evasion continue.
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