Morgan Stanley must pay a whopping $60 million fine for failing to properly decommission multiple business data centers that stored sensitive customer information. The bank failed to properly dispose of customer data stored on computer servers at a local branch. A $5 million class-action lawsuit on behalf of about 100 customers was also filed against the bank earlier this year. Data breaches dont necessarily stem from a malicious actor or intrusions on a company network. Although data mismanagement is often attributed to errors on the part of IT, employee behavior and third-party vendors are as much to blame for exposing data.”]