Before the days of information technology, crime was a simple matter. Some men in masks would run into a bank with an empty duffel bag and have the teller fill it up before jumping into the getaway car waiting outside. And if they managed to do all that before the police arrived, there was a 99 per cent chance of them getting away with it. These days, with all banking and investments happening digitally, things are a lot more complicated. The data theft by an employee of Morgan Stanley that was discovered of 27 December 2014 is just the latest in a long list of cyber crimes that have left clients vulnerable. The accused, 30-year-old Galen Marsh, who was employed by Morgan Stanley, obtained the names and numbers of around 350,000 wealth management clients, which amounts to roughly 10 per cent of Morgan Stanley’s clients. The information was briefly published online, but was discovered during a routine scan on the internet on 27 December 2014. Mr Marsh denies publishing the information. A source says that the site on which the information was published “had virtually no hits”, and luckily the clients to whom the information belonged did not suffer any […]
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