Morgan Stanley fined millions for selling off devices full of customer PII

Morgan Stanley, which bills itself in its website title tag as the “global leader in financial services”, and states in the opening sentence of its main page that “clients come first”, has been fined $35,000,000 by the US Securities and Exchange Commission (SEC)… …for selling off old hardware devices online, including thousands of disk drives, that were still loaded with personally identifiable information (PII) belonging to its clients. Today we announced charges against Morgan Stanley Smith Barney LLC stemming from the firm’s extensive failures to protect the personal identifying information of approximately 15 million customers.

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