“While there is no evidence of any economic loss to any client, it has been determined that certain account information of approximately 900 clients, including account names and numbers, was briefly posted on the Internet. Morgan Stanley detected this exposure and the information was promptly removed,” the company noted in its statement. “Overall, partial account information of up to 10 percent of all Wealth Management clients was stolen. The data stolen does not include account passwords or social security numbers. The firm is taking the precaution of notifying all potentially affected clients and instituting enhanced security procedures including fraud monitoring on these accounts.” According to Yahoo Finance the employee has been identified as Galen Marsh. The 30 year old financial advisor has been working with Morgan Stanley since 2008 and stole the partial list of 350,000 Morgan Stanley wealth management client records. His lawyer, Robert C. Gottlieb of Gottlieb & Gordon LLP, said today in a phone interview with Yahoo Finance that his client data never intended to sell the information and “is extremely sorry for his conduct,”and denied that his client had shared some of the information on Pastebin in an attempt to find more buyers for the rest. His said that his client has “acknowledged that he should not have obtained the account information and has been cooperating with Morgan Stanley to protect the firm and its customers.” Morgan Stanley stated that as of now there is no evidence of any third party getting their hands on the stolen data. It also added that FBI has been notified about the theft and is investigating into the matter.
