Oh no, you're thinking, yet another cookie pop-up. Well, sorry, it's the law. We measure how many people read us, and ensure you see relevant ads, by storing cookies on your device. If you're cool with that, hit “Accept all Cookies”. For more info and to customize your settings, hit “Customize Settings”.

Review and manage your consent

Here's an overview of our use of cookies, similar technologies and how to manage them. You can also change your choices at any time, by hitting the “Your Consent Options” link on the site's footer.

Manage Cookie Preferences
  • These cookies are strictly necessary so that you can navigate the site as normal and use all features. Without these cookies we cannot provide you with the service that you expect.

  • These cookies are used to make advertising messages more relevant to you. They perform functions like preventing the same ad from continuously reappearing, ensuring that ads are properly displayed for advertisers, and in some cases selecting advertisements that are based on your interests.

  • These cookies collect information in aggregate form to help us understand how our websites are being used. They allow us to count visits and traffic sources so that we can measure and improve the performance of our sites. If people say no to these cookies, we do not know how many people have visited and we cannot monitor performance.

See also our Cookie policy and Privacy policy.

This article is more than 1 year old

Morgan Stanley staffer cops guilty plea over data breach

Data leaked because Marsh was hacked, says lawyer

The Morgan Stanley staffer fired in January over a massive data breach has now entered a guilty plea in the Federal Court in Manhattan.

Galen Marsh was being tried for taking hundreds of thousands of records of the bank's wealth management operation home. Some of the trove, affecting 900 individuals, then ended up on Pastebin as a pitch for the sale of the whole data set.

While early reports said six million accounts were offered for sale, complete with passwords (something Morgan Stanley denied in a statement), the prosecution's case said Marsh took a more modest 730,000 records away from the bank, affecting about 350,000 customers.

Morgan Stanley has reiterated that customers did not lose any money from the disclosure.

Defense attorney Robert Gottleib said Marsh never posted the information online. Rather, Gottleib told the court, the disclosures “were the result of outside hackers, and he had absolutely nothing to do with it”.

The feds might even agree: a source told Reuters authorities are still looking into “other aspects of the breach”.

Marsh worked with Morgan Stanley from 2008, when he began as a sales assistant. The data in this case was copied to his home computer between 2011 and 2014.

While his lawyers hope Marsh won't get time in the slammer, his plea deal includes not appealing any prison term less than 37 months. ®

 

Similar topics

Similar topics

Similar topics

TIP US OFF

Send us news


Other stories you might like