A former wealth management adviser at Morgan Stanley pleaded guilty this week to stealing confidential information linked to 700,000 client accounts. Some fraud-prevention experts say the investment banking firm could have taken steps to detect the suspicious insider activity sooner. Morgan Stanley should have had stronger internal controls and account monitoring in place to detect Marsh’s scam sooner, one expert says. Financial institutions have a responsibility to safeguard their clients, says another expert. Cybersecurity expert Avivah Litan says many larger financial organizations have been working for years to enhance their systems.”]
Source: https://www.bankinfosecurity.com/guilty-plea-in-morgan-stanley-insider-breach-a-8546