15,000 customers of HSBC, all Swiss account holders, now stand threatened to be exposed to tax officials from their respective countries after their information was stolen. This was done by Herve Falciani, a former employee of the HSBC Private Bank's subsidiary.

CEO of the Swiss subsidiary Alexandre Zeller said, "We deeply regret this situation and unreservedly apologize to our clients for this threat to their privacy". The bank also made quick attempts to get in touch with each of their privileged clients to let them know that the information can have an impact on the accounts held at Switzerland alone, although may lead them be under close watch of the tax officers.

This stolen chunk of information is used to tip governments and help them find citizens who hide their money and get away by not paying their taxes. The French government did get a load of such information; however, in mutual agreement, returned the data to the Swiss government.

HSBC did make it very clear that providing service for their wealthy clients was the whole crux of their business, especially having nearly 100,000 clients as their private bankers. On Thursday, the bank subtlety hinted stating, "The French authorities have informed the Swiss authorities that the data they hold will not be used inappropriately," however not making it clear if this information will be eventually used to track the ones who have been avoiding their taxes. The bank promised that this information will never be used to disclose any private and confidential information.