[ISN] Guilty Plea in Morgan Stanley Insider Breach

http://www.bankinfosecurity.com/guilty-plea-in-morgan-stanley-insider-breach-a-8546 By Tracy Kitten @FraudBlogger Bank Info Security September 22, 2015 A former wealth management adviser at Morgan Stanley pleaded guilty this week to stealing confidential information linked to more than 700,000 client accounts over a period of several years. Some fraud-prevention experts say the investment banking firm could have taken steps to detect the suspicious insider activity sooner. Galen Marsh, who worked for the firm’s Manhattan office until he was fired in January 2015, told the U.S. District Court for the Southern District of New York on Sept. 21 that he illegally accessed account holders’ names, addresses and other personal information, along with investment values and earnings, from computer systems used by Morgan Stanley to manage confidential data, according to court records. Between June 2011 and December 2014, Marsh conducted nearly 6,000 unauthorized searches of confidential client information and then uploaded the information on 730,000 clients to a server at his home in New Jersey, the court documents show. […]




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