Suspected disclosure of client data stolen in 2002 from LGT Treuhand AG in Vaduz
February 15, 2008
Vaduz, 15.2.2008 – As announced today by LGT Group, there are indications that client data stolen from LGT Treuhand AG in Vaduz has been unlawfully disclosed. The theft of this data was regis-tered as a criminal offence and a court sentence was passed in 2003. Clients, who have a business relationship only with LGT Bank (and not with LGT Treuhand AG), as well as all client relationships established from 2003 onwards with companies of LGT Group, are not affected by this theft of client data.
In 2002, confidential client data was stolen from LGT Treuhand AG in Vaduz by an employee at that time. LGT Treuhand AG is a subsidiary of LGT Group independent of LGT Bank, which is responsible among other things for setting up foundations. The theft was immediately reported as a criminal case and the employee, who in the meantime had left the company, was sentenced by a court at the end of 2003. Based on contacts between the parties, the data material was supposedly returned in full. Accordingly, on the basis of the facts at that time, LGT Treuhand AG regarded the case as closed.
In summer 2007, LGT Treuhand AG first became aware of isolated indications that client data had been ille-gally disclosed and initiated an internal investigation to determine the source. Over the last few days signs have become clearer that this involves parts of the data stolen in 2002. The scope of the presumed disclosure of the data has not yet been established. LGT will immediately register a criminal offence against a person unknown and will do everything in its power to protect the interests of its clients.
The stolen data contains information about client relationships of LGT Treuhand AG in Vaduz, which were established prior to 2003. Clients, who have a business relationship only with LGT Bank (and not with LGT Treuhand AG), as well as all client relationships established from 2003 onwards with companies of LGT Group, are not affected by this theft of data.
LGT Group stresses that the assumed connection between the data stolen in 2002 and the situation currently being discussed in the media cannot be conclusively substantiated or confirmed. This information corre-sponds to the facts and knowledge presently available to LGT. Clients, who could be affected by the disclo-sure of the stolen data, will be contacted personally where possible.
Security precautions to protect the private sphere of clients have been continually enhanced to conform to the latest technology over the years and there are no grounds to indicate that client information has been stolen since 2002.
The companies of the LGT Group conduct their business activities in conformance with legal and regulatory standards and they have no knowledge of any investigations directed at them. LGT attaches the highest im-portance to protecting the private sphere of its clients, however, like every other financial institute, it is not immune to the criminal activities of individual persons. LGT sincerely apologizes to its clients and employees and deeply regrets the situation that has arisen.
LGT Group in brief
LGT Group is the wealth and asset management group of the Princely House of Liechtenstein. It has around 1,500 employees in 29 locations in Europe, Asia, the Middle East, and America. As of 30 June 2007, LGT Group's assets under administration totaled CHF 99.7 billion.
Your contacts
Dr. Hans-Martin Uehlinger, LGT press spokesman
Tel. +423 235 14 30
Fax +423 235 16 70
hans-martin.uehlinger@lgt.com,
www.lgt.com
Bernd Junkers, LGT press spokesman
Tel. +423 235 17 20
Mobile +41 79 540 00 23
Fax +423 235 16 70
bernd.junkers@lgt.com,
www.lgt.com
Data theft 2002: Information for our clients and interested readers