Sunday, November 29, 03:12
Home security Morgan Stanley: $ 60 million fine for breach

Morgan Stanley: $ 60 million fine for breach

A fine of $ 60 million was imposed on Morgan Stanley, from Office of the Comptroller of the Currency, for the failure of the investment bank to properly supervise the safety of its data centers, setting them data of its customers at risk.

Morgan Stanley

When Morgan Stanley disarmed the two data centers associated with the bank's wealth management business in 2016, it failed to properly oversee the third company responsible for ensuring the removal of all personal data, according to the OCC, which is part of US Treasury Department.

"In relation to decommissioning, the bank, among other things, has failed to effectively assess or address risks decommissioning failed to adequately assess the risk of use by third-party manufacturers, including subcontractors, and failed to maintain an adequate AppliancesSays the OCC report.

The OCC also says that Morgan Stanley neglected to exercise proper oversight when it withdrew certain Appliances network, such as computer servers, from a local branch in 2019.

The OCC fine comes about a month after lawyers representing Morgan Stanley clients filed a lawsuit against the bank, claiming it failed to safeguard their personal rights. information, in cases of equipment disposal.   

Morgan Stanley confirmed the incidents by sending letters to the Attorney General of California and the attorney generals of other states in July. The letter notes that the data exposed may include names and account numbers, social security number, passport number, contact details, date of birth, property value and possession details. He also says he offered victims two years of prepaid credit monitoring services.

The lawsuit includes complaints from about 100 Morgan Stanley customers who claim to have been influenced by the company's practices.

LEAVE ANSWER

Please enter your comment!
Please enter your name here

Absent Mia
Absent Miahttps://www.secnews.gr
Being your self, in a world that constantly tries to change you, is your greatest achievement

LIVE NEWS

How to choose which extensions will appear in the Edge toolbar

Extensions to Microsoft Edge can make your browser more useful. But sometimes you may not like it ...

COVID-19 vaccines: North Korea hacks drugs

South Korea, to be precise, its intelligence service, has thwarted North Korea's efforts to invade South Korean companies ...

Drupal: Security updates to deal with exploits

The developers of the Drupal content management system (CMS) have released emergency security updates due to the availability of some exploits, which can put in ...

How to disable "Get even more out of Windows" in Windows 10

Does it bother you that "Get even more out of Windows" appears every time you update to Windows 10? May be...

The US military is investigating "telepathic" communication technology

The U.S. Army Research Bureau is funding a new study on how brain signals could ...

Canon acknowledged the ransomware attack in August

About three months later, Canon publicly confirmed the ransomware attack it suffered in early August, which affected servers ...

Hackers love expired domains

Sometimes, website owners do not want to continue to have a domain name and allow it to ...

Word: How to add the same text to multiple documents with one link

Microsoft Word makes it easy to add the same text to multiple documents. This is especially convenient for text with special formatting, the ...

Black Friday: Cybercriminals are monitoring your shopping

Due to the conditions that have emerged from the pandemic of COVID-19, the online shopping will be particularly high on Black Friday and ...

US fertility: Ransomware attack on the largest fertility network in the USA!

US Fertility, the largest fertility network in the US, announced that some of its systems were encrypted in an ransomware attack that ...