Morgan Stanley Smith Barney Warns Customers on Possible Disclosure of Sensitive Information
Recently, Morgan Stanley Smith Barney notified 34,000 customers of possible data breach resulting from the loss of two CD-ROM discs. The discs contained sensitive personal and financial information related to customers, which include names, contact addresses, account and tax identification numbers and income generated through investments during the previous year. According to Credit.com, which first reported the incident, the lost discs reportedly also contain social security numbers of some customers. Morgan Stanley Smith Barney is a leading Wealth management joint venture between Morgan Stanley and Citigroup. The company offers financial advisory, retail brokerage, investment advisory services and financial and wealth planning services among others. The information stored on the two discs is supposedly password protected, but not encrypted. The company had mailed the CD-ROM discs to the New York State Department of Taxation and Finance, which reportedly received the package intact. However, the discs were missing when the package arrived at the desk of the intended person in the department. The company conducted a two-week long investigation before sending notification to the affected customers. Morgan Stanley Smith Barney has offered to pay for one year credit monitoring services to those who customers, whose social security number was among the data stored on the stolen CD-ROM discs.
Cybercriminals having access to compromised data may use the information for misrepresentation, identity theft and making fraudulent claims. They may misuse the information related to investments to defraud users through social engineering techniques.
Over the years, there has been an increase in the use of data storage devices, laptops and other portable devices. The portability of the devices, high storage capacity, increased working hours and increase in work related travel have resulted in greater use of storage devices. Users can easily connect these devices to other network resources. However, loss or theft of such devices may cause data theft or leakage resulting in severe repercussions for both businesses as well as affected individuals. Unauthorized access to sensitive business related information may result in strategic and financial losses. Professionals may regularly update their skills and acquaint themselves of latest security mechanisms through online university degree and distance learning programs.
Organizations must encrypt data before transmitting them through any channel. Professionals qualified in computer science degree and masters of security science may help organizations in making appropriate threat assessment and bring necessary changes in the security practices. Employees could be guided on the safe use of laptops, encrypt information, securing passwords, data back-up, prevention of accidental disclosure and document download policy through training sessions and e-learning programs. Employees may also benefit from online degree courses and improve their information security practices.
Contact Press
EC-Council
Website: http://www.eccuni.us
Email: iclass@eccouncil.org
Tel: 505-341-3228
EC-Council University is based in Albuquerque, New Mexico and offers Master of Security Science (MSS) degree to students from various backgrounds such as graduates, IT Professionals, and military students amongst several others. The MSS is offered as a 100% online degree program and allows EC-Council University to reach students from not only the United States, but from all around the world.
EC-Council is a member-based organization that certifies individuals in cybersecurity and e-commerce skills. It is the owner and developer of 16 security certifications, including Certified Ethical Hacker (CEH), Computer Hacking Forensics Investigator (CHFI) and EC-Council Certified Security Analyst (ECSA)/License Penetration Tester (LPT). Its certificate programs are offered in over 60 countries around the world.
EC-Council has trained over 80,000 individuals and certified more than 30,000 members, through more than 450 training partners globally. These certifications are recognized worldwide and have received endorsements from various government agencies including the U.S. federal government via the Montgomery GI Bill, Department of Defense via DoD 8570.01-M, National Security Agency (NSA) and the Committee on National Security Systems (CNSS). EC-Council also operates the global series of Hacker Halted security conferences.
Processing your request, Please wait....
