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10% Of Morgan Stanley High Net Worth Clients Just Had Their Data Stolen
In what can only be described as a puiblic relations disaster, Morgan Stanley has just admitted that an employee (former) had stolen partial client data for around 900 high net worth Wealth Management clients and briefly posted it on the internet. Overall, around 10% of all the accounts (as Bloomberg reports - 350,000 wealth-management clients) data was stolen. While social security numbers and bank account data was not released, we can only imagine the anxiety-ridden outflows the firm will suffer from this security breach.
- *MORGAN STANLEY SAYS DATA BRIEFLY POSTED ON THE INTERNET
- *MS: ABOUT 900 CLIENTS' ACCOUNT DATA AFFECTED INCL NAMES,NUMBERS
- *MORGAN STANLEY FIRES EMPLOYEE ACCUSED OF STEALING CLIENT DATA
- *MS: EMPLOYEE HAS BEEN TERMINATED, LAW ENFORCEMENT BEEN ADVISED
- *MORGAN STANLEY SAYS DATA BRIEFLY POSTED ON THE INTERNET
- *MS: DATA DOESN'T INCL PASSWORDS OR SOCIAL SECURITY NUMBERS
Morgan Stanley (MS) fired an employee it said stole data, including account numbers, for as many as 350,000 wealth-management clients and posted some of the information online.
The bank alerted law enforcement and found no evidence that clients lost any money, New York-based Morgan Stanley said today in a statement. The firm said it detected account information for about 900 clients on an external website and “promptly” had it removed.
...
The bank’s inquiry found the employee may have been seeking to sell the stolen information, though there was no evidence any third party received it, according to the person. The firm has disabled the application used to access the data, the person said.
The Comany's press release:
Morgan Stanley today began advising certain Wealth Management clients that an employee had stolen partial client data. The Wealth Management employee has been terminated, and law enforcement and regulatory authorities have been advised of the incident.
While there is no evidence of any economic loss to any client, it has been determined that certain account information of approximately 900 clients, including account names and numbers, was briefly posted on the Internet. Morgan Stanley detected this exposure and the information was promptly removed.
Overall, partial account information of up to 10 percent of all Wealth Management clients was stolen. The data stolen does not include account passwords or social security numbers. The Firm is taking the precaution of notifying all potentially affected clients and instituting enhanced security procedures including fraud monitoring on these accounts.
All impacted clients are in the process of being contacted by the Firm and their Financial Advisors. A dedicated information line also has been established at 855-398-6437 (U.S. and Canada) or 512-201-2186 (outside the U.S. and Canada).
Morgan Stanley takes extremely seriously its responsibility to safeguard client data, and is working with the appropriate authorities to conduct and conclude a thorough investigation of this incident.
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because they care so much. lulz
Doublespeak dictionary entry of the day:
(former) employee = North Korea.
pods
Another one seems to be targeted ...
At the end why would they need all of these high paid individuals up there? useless high paid eaters
I remember an interview few years ago from the Bearn Stearns guy Greenberg (ace smt), who moved to JPM later on. He said there is no Wall Street anylonger and no need for it ... come to think of it, what is the purpose really? none needs capital ... they are awash with it .... slaughtering time
10% of high networth...isn't that another way of saying top 1%?
Typical cover-your-ass crap- of course the SSN's and bank account numbers are out in the open- they're on the account opening forms-
"Remain calm- all is well- pay no attention to the man rearranging your net worth...."
The only real question is how can they use it in Q 4 reporting.
Well the bonuses will not be affected.
WS Banksters know nothing of technology except how it can add up their bonuses, so they scrimp on basic securities of their technology and then this happens...
They have no choice but to minimize and cover-up, otherwise it's nailgun accidents everywhere.....
Not too worry --- Erskine Bowles (the last time I checked) is on their board of directors, thats Kissinger/Clinton/Obama dood, Erskine Bowles who made received his political payoff --- er, I mean big bucks --- at Forstmann Little where he was hired by Henry Kissinger.
These HNWI doods simply need to answer Bowles' call and embrace austerity, like the rest of us proles!
FBI will blame N Korea and the Nobel Prize Winner will ramp up sanctions. Never let a crisis go to waste.
Or, as usual, the US can blame the demented "mass-murderer" Putin even as the Nobel Prize Winner bombs seven Muslim countries and drones women and children and wedding parties routinely.
It's teh (formerly employed by Sony) RUSHAN HAX0RZ! They've been hirezd by teh KiM J0nG Un-C0La 7UP cybar terrists!!!1!
Or this dood's son:
http://nypost.com/2015/01/04/hedge-fund-founder-shot-dead-by-son-sources/?utm_campaign=SocialFlow&utm_source=NYPTwitter&utm_medium=SocialFlow
a whole fuckin 10% damn batten down the hatches
Sounds like the Morgue needs to be broken up.
Hey Doc, you ever talk to fonz anymore? If you do, please tell him old BoP says hello...and that he is missed around here.
Thanks.
I will. Although he has been pretty quiet over the holidays. He's been busy spending time with the family, or something silly like that.
Steal it all MF's. It'll be tough to enjoy it when you're pushing up daises. This WILL come back to "get" your ass.
The IRS is coming to get you.
Let's look on the bright side: after the bad guys work their magic with their personal data, they'll still be "high gross worth" clients
Blame N. Korea
/s
Obama will sanction them more over this. He is not the sharpest tool in the shed.
But he is a tool none the less.
And a tool that follows voice commands and can do optical character recognition . Its not like he was chosen for his ability to think independently.
Ha, the Blame Canada meme has finally been replaced. Aboot time.
Probably the ones long oil.
The Superbowl is soon.
Fucking Drudge has had "Dallas Lives" as hi headline all day and all last night. Who gives a shit? That's not news.
Oh, Wait. Yes I remember.
Sorry.
Thank fuck i'm not on that list , otherwise i'd have moved all my stash to Goldman to complete the circle-jerk.
Therefore, if U see mass sell offs then U know that we R in 4 a Crash or a Crash is in Progress.
Nice to have an insider in yourself...to let us know the crash is in play.
Sounds like a living will is in order. I don't suppose JPM has theirs in place yet?
http://www.globaldeflationnews.com/living-wills-were-suppose-to-prevent-...
Wow. I'm flabbergasted. Wow.
Would love to be a fly on the wall in Nigerian ex-Presidente Babangida's household. Fat fucker despite being out of power for a few decades is still privy to 10% of the country's crude wealth.
Some of those proceeds find their way to financing Boco Harem and other destabalising elements in that God forsaken country where everyone believes in God.
DUMB SMUCKS don't even realise that the USSA/UK/ISRAEL control 60% of the wealth of the country with regular trips to Tel Aviv and Houston by their bagmen.
Hi wife said I can have 10% of it if I send her my bank account number
Call 911 Mo Fos. 911. It is a Rip Off on the Scale of 911.
- This could be war or civil war or a game of patty cake.
- Who knows the implications here!!!
- Hawaii-50, Hawaii-50, Run
- Clearly a CIA or NSA Op
- Practice for Later this Year, Internet-Banking Crisis
Er, Anyone know people with Expert Ability in following internet schemes and hacks... we need anonymous.
does that mean you're saying they are covering up culpability for another enron?
Well they would not tell us if it was an internet hack.
Public & Private Executives feel no responsibility to tell the truth. Partly that is why we need to limit the size of organizations.
And of course we have no idea if NSA or CIA is hacking anyone, steeling their account info, posting their data online, blackmailing people with this capability, or even using account data themselves for Projects...
We will never know if we allow people in power to make things complicated for the benefit of the few.
Da fuck you say? All that data was stolen the moment the client walked into the lobby...And its gone!
Somebody make a list.
Actually surprised here they didn't blame North Korea or Russia for this...I'll give it some time.
Yup, time to issue more sanctions.
"..posted briefly on the internet.."
Internet has a really good memory and i am sure that some Ghanese email-writers already made a copy.
So when it is done to a Swiss bank the US government makes a deal for stolen data, but now it is an act of terrorism? The US is becoming a joke.
Just a list of the names would make interesting reading.
Wonder if its cached somewhere, apart from you know where.
CNN news flash! 'Intelligences sources indicate that Putin is suspected'
Download link, PLEAAAAASSSE? Need to sell some...ehm....investment "opportunities"...
this could be a debt jubilee for the 1%ers.
have we found the oil longs, and were they just bought, at full price, by the fed. while the app. for access to accounts is down.
I assume the oil longs have been added the nyfed. traders desk to be used as seen fit.
tomorrows headlines, Morgan-Stanley, heroically, and at great cost the firm, got this breach just in the nick of time, and all accounts have been restored, with no loss or liability.
We have proof it was Russia, erm i mean North Korea, It was definitely Anon.
Aww fuck, who even cares, lets just sanction or bomb someone and say it was them.
</whitehouse briefing>
</sarc>