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.
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.
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.
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.
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.