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Tag Archives: data security

ITAD firms weigh in on bank’s $60M data mismanagement fine

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Morgan Stanley building exterior.

The Treasury Department fine against Morgan Stanley was related to a 2016 decommissioning of two Wealth Management business data centers in the U.S., as well as ITAD vendor control management deficiencies in 2019. The company doesn’t believe any client information has been accessed or misused.| Ken Wolter/Shutterstock

The U.S. Treasury Department has issued a major fine to Morgan Stanley for improper management of drives. Executives in the electronics recovery sector say the case reaffirms the warnings they have been giving to corporate partners for years.

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How a processor brought drive wiping and repair to ITAD sites

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Ultratest Solutions

The Genesis unit in use erasing, testing and repairing drives. | Courtesy of Ultratest Solutions.

Amid growing data security concerns, U.K.-based Ultratec has seen greater reluctance among its customers to ship unwiped drives to Ultratec’s plants for data sanitization. Bringing drive processing capabilities to customers’ sites alleviates those concerns.

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Lawsuits pile on after ITAD vendor’s data mismanagement

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Multiple lawsuits accuse Morgan Stanley of negligence, breach of contract, violation of data security laws and more. | enzozo/Shutterstock

Morgan Stanley faces seven class action lawsuits related to an ITAD vendor’s alleged lapse in data security protocols, and the financial institution is considering legal action against the unnamed processor.

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How COVID-19 has affected ITAD and data destruction firms

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Clockwise from upper left: Joseph Harford of Reclamere moderated a July 23 webinar that featured Neil Peters-Michaud of Cascade Asset Management, Jade Lee of Supply-Chain Services and Brent Berry of Ingram Micro.

Clockwise from upper left: Joseph Harford of Reclamere moderated a July 23 webinar that featured Neil Peters-Michaud of Cascade Asset Management, Jade Lee of Supply-Chain Services and Brent Berry of Ingram Micro.

The pandemic has forced the ITAD industry to adapt to survive. Experts from three processors recently described that sudden evolution and what it means for the future of data destruction services.

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Morgan Stanley faces lawsuits from ITAD data mishap

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Open lock against a green binary code screen.

Morgan Stanley says it has not detected unauthorized use of personal information related to the recent data security incidents. | Chim/Shutterstock

Financial institution Morgan Stanley recently told customers an ITAD vendor’s mistakes may have left personal information susceptible to misuse. Multiple clients have filed suit against the investment firm.

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Northeast firm grows by focusing solely on data management

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Glenn Laga of Guardian Data Destruction.

Glenn Laga, president and CEO of Guardian Data Destruction. | Screenshot of Guardian Data Destruction video.

Guardian Data Destruction, which offers on-site data destruction services but no actual processing, is expanding and looking at opportunities to fill emerging data security needs. The company’s leader recently spoke about current trends in asset management.

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