Julius Baer confirms data theft

Julius Baer confirms data theft

Swiss private bank Julius Baer has confirmed the theft of confidential client data from one of its units in the Cayman Islands.

The data, pertaining to some of the bank's most affluent customers, is believed to have been stolen by a former employee and was subsequently passed on to Swiss finance magazine CASH.

The Swiss bank has told local newswires that it has launched a probe into the exact circumstances surrounding the theft, but has declined to detail the number of customer records involved.

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