Insider Threat Realized: Morgan Stanley to pay $1M in SEC Settlement

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Morgan Stanley will pay a $1M settlement to the Securities and Exchange Commission (SEC) for failing to protect its customers’ personally identifiable information (PII) from unauthorized disclosure. From 2011 – 2014, a former Morgan Stanley employee, Galen Marsh transferred Morgan Stanley client account data to his personal laptop via his personal website. The information was then obtained by hackers who posted it on the Internet for profit. In 2015, Galen Marsh, pled guilty to exceeding his authorized access to a computer, which was a violation of law 18 U.S.C. § 1030(a)(2)(A) regarding Fraud and related activity in connection …read more

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