OCC fines Morgan Stanley $60M for data inventory risk failures
By 
Aaron Nicodemus2020-10-08T20:51:00
Morgan Stanley has agreed to pay $60 million as part of a settlement with the OCC for failing to adequately protect customer data when the bank decommissioned two U.S.-based wealth management data centers.
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
News BriefMorgan Stanley settles with states for $6.5M over mishandled data
Morgan Stanley agreed to pay $6.5 million as part of a settlement with six states requiring the firm to strengthen its data security after actions it took compromised the personal data of millions of customers.
-
ArticleMorgan Stanley unit fined $35M for mishandling customer data
Morgan Stanley Smith Barney agreed to pay $35 million to settle Securities and Exchange Commission charges it repeatedly disregarded the safeguarding of clients’ personal data in decommissioning local storage devices.
-
ArticleMorgan Stanley agrees to $60M settlement over compromised personal data
Morgan Stanley has agreed to establish a $60 million fund to settle a class-action lawsuit filed by nearly a dozen customers regarding personal data that was compromised when the bank decommissioned two wealth management centers.
More from Regulatory Enforcement
-
ArticleTariff evasion enforcement: The new FCPA
Companies that import goods into the United States will face heightened enforcement scrutiny for attempted acts of customs fraud, including tariff evasion, under the Trump administration. Thus, chief compliance officers and in-house counsel face a new kind of pressure to ensure they are mitigating risk in this area.
-
ArticleFormer COO of plastics importer faces up to five years for customs falsifications
The chief operating officer of a plastic resin importer has pleaded guilty to intentionally falsifying documents to avoid paying tariffs on goods from China, the Department of Justice (DOJ) announced.
-
ArticleCybercrime against banks and account holders takes hit from FBI
Federal investigators have announced progress in dismantling an online criminal operation that steals bank account information by mimicking legitimate bank websites.