Guilty Plea in Morgan Stanley Insider Breach

[InfoSec News <alerts () infosecnews org>]

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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