Second Swiss bank targeted by identity theft campaign
London, UK - 13 April 2004, 17:15 GMT - Just before Easter, customers
of the venerable Swiss financial institution Zuercher Kantonalbank (ZKB) were
targeted by identity theft emails. A few days prior to the ZKB incident, Basler
Kantonalbank (BKB) customers were similarly targeted in another round of "phishing"
scam attacks aimed at international and domestic banks worldwide. The Basler
Kantonalbank has put up an advisory on its web site explaining the problem.
Eastern European criminal syndicates are widely suspected of carrying out
the phishing scams. Historically, Swiss private banks with their strict adherence
to client confidentiality through "secrecy laws" have been seen
as safe havens for high net worth individuals across the world. These recent
phishing incidents seeking to carry out mass identity theft undermine confidence
in the unique selling proposition of Swiss banks.