The Morgan Stanley data mismanagement case continues to work its way through the court system. | wk1003mike / Shutterstock
Data that was mismanaged during Morgan Stanley’s ITAD processes has not been accessed for malicious intent, and therefore the class-action lawsuit against the financial giant should be dismissed, attorneys for the bank said in a new court filing.
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Lawyers allege a Morgan Stanley vice president was fired as a result of data mismanagement during an ITAD job. | Kjetil Kolbjornsrud / Shutterstock
Financial services giant Morgan Stanley terminated a contract with its long-standing IT asset disposition vendor to save money prior to a botched data center decommissioning job in 2016, lawyers alleged in court this month.
A court filing this month revealed more details about data mismanagement that occurred during asset disposition at Morgan Stanley locations. | Mr. Tempter / Shutterstock
Morgan Stanley has identified the data center decommissioning provider it claims was responsible for a data-breach incident, which led to lawsuits and a $60 million penalty against the financial giant.
Only 11 of 131 study respondents said they didn’t try to remove any personal data before disposing of a device. | Neirfy / Shutterstock
Consumers are overwhelmingly concerned about their personal data, and most of them try to delete it before selling or recycling their devices, according to new research.
A view of the LoopSecure tracking service dashboard. | Courtesy of Greenlyfocus
A newly launched service will track used electronics leaving enterprises’ loading docks, helping companies recover equipment that’s lost or stolen before arrival at an ITAD facility.
Most enterprises say they’ve purchased laptops because of the pandemic, and most plan to resell the devices when they’re no longer needed. | Alex Ruhl/Shutterstock
Nearly half of large organizations have created job positions related to managing scrap electronics generated during the pandemic, according to a survey.
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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.
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.
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.
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.