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Morgan Stanley names vendor in data security case

Posted on August 21, 2021 by Dissent

Colin Staub reports:

Morgan Stanley has identified the data center decommissioning provider it claims was responsible for a data-breach incident, which led to lawsuits and a $60 million penalty against the financial giant.

The bank was named as a defendant in several class-action lawsuits last, after customer information was mismanaged during 2016 and 2019 computer decommissioning projects. In the 2016 data center decommissioning incident, the bank placed blame on the service provider.

In court papers filed this month, Morgan Stanley revealed that the 2016 data center decommissioning project was outsourced to a company called Triple Crown, which in turn sold the devices to ITAD firm AnythingIT. Retired devices were ultimately sold to a used device marketplace, where they were resold to consumers.

Read more on E-Scrap News.

Category: Financial SectorOf NoteSubcontractorU.S.

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