• Morgan Stanley fined millions for not encrypting hardware

    2 days ago - By Tech Radar

    Morgan Stanley has settled with the US Securities and Exchange Commission over claims that the financial services corporation failed to properly protect customer-sensitive data. As part of the settlement, the company will pay $35 million, but will not admit to being guilty, or deny the findings of the SEC. The SEC found Morgan Stanley failed to protect customer data by poorly handling the decommissioning of some of its storage units. This included apparently hiring a moving and storage company “with no experience or expertise in data destruction services” to decommission thousands of hard...
    Read more ...