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Following the Auction of Unencrypted, Unwiped Hard Discs, Morgan Stanley was Fined $35 Million.

On Tuesday, Morgan Stanley agreed to pay a $35 million fine to the Securities and Exchange Commission (SEC) for data security violations that included the unencrypted resale of hard drives from shut-down data centres without first wiping them. The inappropriate disposal of tens of thousands of hard drives, which began in 2016, was part of a 'extensive failure' over a five-year period to protect consumer data as required by federal regulations, according to the SEC complaint. When serve...
United States Gurbirs Grewal Morgan Stanley Exchange Commission Disposal Rules

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