Morgan Stanley has sacked an employee for stealing personal data of the bank’s nearly 900 high net worth clients.
The US-based bank, which has not yet disclosed the name of the accused, said that the employee stole client names and account numbers, and not passwords or social security numbers.
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Moreover, the employee also briefly shared the information on the internet before it was detected by the bank and promptly removed.
In total, partial account information of nearly 10% of the bank’s wealth management clients has been stolen.
The bank is in the process of notifying all the potentially affected clients and is tightening security procedures on these accounts.
It is currently working with law enforcement and regulatory authorities on the issue, though it said that it has not yet detected any economic loss to any client.
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By GlobalData
