The prosecutors of a former UBS employee accused of stealing client data and selling on to German tax authorities are seeking a four year prison sentence.

The maximum sentence for breaking bank secrecy laws is five years.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The defendant, identified only as Rene S. has thus far failed to turn up to court, originally set to begin on Monday 7th January, but delayed a day due to his no-show.

His prosecutors have requested a four-year prison sentence and a fine equivalent to over $6,000, according to Bloomberg.

In failing to report to court for his trial, Rene S. is echoing the approach of Herve Falciani, a former IT specialist at HSBC Holdings PLC, accused in 2015 of trying to sell customer data, who claimed he wished to prove to the authorities how HSBC clients were evading tax.

The trial comes at a time when Swiss laws regarding whistleblowers are being reviewed by its government, with proposed changes falling short of global standards according to anti-corruption organisation Transparency International.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“Swiss lawmakers so far have consistently avoided providing adequate whistleblower protection. They seem to have not yet understood its importance for employees, but also the value added for Swiss companies and Switzerland as a business location,” Martin Hilti, executive director in Switzerland of Transparency International, said.

Rene S.’s legal representatives have denied the charges against their client. The trial is expected to last for the remainder of the week with a verdict scheduled for January 21st.

UBS have come under pressure from French and German tax authorities recently, with those in France demanding a fine of €3.7 billion be paid for allegedly abetting its clients in tax evasion.