FTC: Morgan Stanley not at fault over released information
Morgan Stanley dodged a bullet this week when the Federal Trade Commission ruled the firm did not violate security protocols concerning a breach earlier this year.
Morgan Stanley dodged a bullet this week when the Federal Trade Commission (FTC) ruled the firm did not violate security protocols concerning an earlier breach.
Morgan Stanley said in an emailed statement to SCMagazine.com Wednesday that it was pleased with the result of the FTC investigation and that it had properly followed all protocols necessary to alert law enforcement and protect its customer's data.
“There is no evidence of fraud occurring on the affected client accounts as a result of this incident,” the company wrote.
The FTC said it is closing the investigation into whether or not Morgan Stanley had in place the proper measures to protect customer information.
“We considered several factors, including the fact that Morgan Stanley had established and implemented comprehensive policies designed to protect against insider theft of personal information, the FTC stated Monday in a public letter on its site.