Morgan Stanley Fires Employee Suspected of Stealing Data on 350,000 Clients

By on January 6, 2015

Morgan Stanley, the Wall Street titan that manages $2 trillion in assets for its clients, reported that it fired an employee for allegedly stealing the financial information of 350,000 clients.

The financial services firm believes that the employee intended to sell the stolen data which included names, account numbers, size of accounts and certain transaction information, but did not include Social Security numbers, passwords or credit-card information.

After Morgan Stanley noticed that the names and account numbers of approximately 900 of its clients were “briefly posted on the Internet,” the company began investigating the issue.  Morgan Stanley indicated that it was offering fraud monitoring services to potentially affected clients free of charge and that law-enforcement authorities were conducting a criminal investigation.

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