Credit Suisse data leak leads to exposure of hidden £80b wealth of criminals


Credit Suisse data leak was disclosed by a German newspaper yesterday and early today some details related to the hidden £80b ($100B) wealth of criminals involved in cyber crime, money laundering, human trafficking were revealed.

Going by the details, a whistle-blower revealed via Twitter that the data leak led to the exposure of 18k account related to 30,000 clients who hid around 100 billion Swiss Francs in various Swiss Bank.

Switzerland-based Credit Suisse Group AG, one of the largest banks in the world openly condemned the revelations made in ‘The Guardian’ and other media outlets and said that the accounts maintained on its servers were as per the rules followed by other financial institutions in the entire Swiss banking systems.

Cybersecurity Insiders has learnt that the secretive accounts held by the criminals includes a human trafficker from Philippines, a stock exchange boss from Hong Kong who is now imprisoned for killing his girlfriend, a bunch of politicians, and executives from Saudi and some Venezuelan officials who were facing allegations related to a financial fraud in an Oil company.

Readers have to notify here that Credit Suisse is facing two allegations- one for serving shady clients with a criminal background and second for failing to protect its servers from being infiltrated by criminals who then stole data related to tax evaders.

All these details were first leaked to the world by a not-for-profit organization named ‘The Organized Crime and Corruption Reporting Project’ that then shared to over 43 news outlets operating across the world on last weekend.

The only good point in this entire story is that the leaked accounts include details related to accounts opened from 1940 to 2017 and doesn’t include details related to current account holders…..hope so!


Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

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