Morgan Stanley insider exposes rich clients info online - KMOV.com

Morgan Stanley insider exposes rich clients info online

NEW YORK (CNNMoney) -- Morgan Stanley says one of its employees exposed the personal details of 900 über-rich clients.

The financial titan announced the data breach on Monday, saying that hundreds of its wealth management clients’ names and account numbers were briefly posted on the Internet.

Morgan Stanley said it fired the employee and has called in law enforcement to investigate the incident.

The company didn’t say when the incident occurred. It also didn’t comment on whether the ex-employee deliberately leaked the information—or if the incident was a mistake.

The bank said in all, only 10% of its wealth management clients were affected. Clients who opt for that kind of service are typically wealthy individuals and families whose vast savings and investments grant them exclusive and preferred treatment from the bank’s financial advisers.

Consider that altogether, the bank’s portfolio of those special clients’ assets was worth more than $2 trillion last year.

Morgan Stanley said the 900 clients did not face any economic loss due to the data breach.

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