Morgan Stanley Fined $6.5 Million for Poor Disposal of Data on Millions of Customers

Morgan Stanley has agreed to pay a $6.5 million fine for potentially exposing millions of consumers’ personal information through a failure to properly erase unencrypted data when disposing of the company’s computer devices. The multinational investment bank failed to properly dispose of thousands of hard drives and servers storing information of millions of customers by hiring a moving company with no data-destruction experience to decommission them, the Office of the Attorney General of the S