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Literature Review of Morgan Stanley Data Breach Case
2022-07-20 来源: 51Due教员组 类别: Essay范文
2015年1月,摩根士丹利摩根宣布其财富管理部门的理财顾问窃取35万个账户数据,这些数据代表了该行近10%的财富管理客户。几乎没有任何妥协是小偷的具体客户的帐户。在这种情况下,很明显可以发现网络安全问题,尤其是数据泄露成为了严重的问题,驱动更多的金融集团将关注这个问题。一些金融机构和监管机构应该团结起来,找到控制这种严重局面的方法。在下一节中,一些专家学者对相关话题有自己的看法。
Introduction
In January 2015, Morgan Stanley Morgan announced that its wealth management division of financial advisers to steal a number of 350,000 accounts data which representing nearly 10% of the bank's wealth management clients. Almost no compromise is the account of the thief's specific customers. In this case, it is obvious to find that cyber security problems, especially the data breach is become the serious question and drive more financial group will focus this issue. Some financial institution and regulators should get together to find a way to control this serious situation. In next section, some experts and scholars have their opinion for related topic.
Economic impacts of data breaches
Some researchers have studied that over the past few years, some security breaches have economic impact on the stock prices of listed companies. Campbell (2013) found violations, including unauthorized access to confidential information of high negative response. However, in 2006, after a wider data set. Acquisti (2006) found that the cumulative effect of data breach in violation of the announcement of lost its meaning, after the next day, so there is a very short.
Meanwhile, Gordon (2011) using a more complex market model and a set of comprehensive data found that investors attitude shift after 9/11. They conclude that security data breach have influence on stock returns is abate, because investors are starting to see irregularities "harassment", rather than the key of enterprise survival threat. Some reports assert that data breaches are affect turnover rate, the percentage of the existing customers for a period of time the company lost, and lead to direct or indirect costs of financial institutions. In these studies, Ponemon institute (2014) found that in 2014, financial institutions, from different countries, ten percent of abnormal turnover averaged rate are 6.1. The study also showed that in 2014 the per capita cost of data leaked to raise to $ 205 us companies, organization costs up to $5.96 million on average.
Cyber Security of Data Breach
While fast and easy access to customer information can improve efficiency, Hallen (2013) says it is easy to make data theft by others. Building data and network security policies to prevent the possible theft of information is the basis of the possible damage. He also mentions that the use of automated analysis to ensure that compliance with security policies to protect customers and corporate data assets is essential."
September 2014, the U.S. Federal Bureau of investigation and the U.S. Department of Homeland Security warned the increase of internal threats, he noted that the commercial network and server development disgruntled and former employees led to several important FBI investigators use them to destroy data access, steal proprietary software, access to customer information, purchase the use of unauthorized goods and services, and in a new company to obtain competitive advantage."
In December 2014, Norway Company staff pointed out that the recent SONY entertainment companies in data breach of the former SONY may be through the system administrator from the company was dismissed in May 2014. However, the recent survey found that IT SpectorSoft professionals, 59% cannot detect the internal threat, and 61% cannot stop them.
Threat may be internal for recent data breach
Morgan Stanley recently in New York federal court of criminal charges, which is the latest example of an increasingly common data leakage problem endangering sensitive personal information, for the enterprise to create a huge risk. This is also a reminder that the enterprise not only to prevent the hacker attack is outside, but also must address the risk of data theft or theft in the organization or insider people (NCSL, 2015).
What Morgan Stanley did right
Morgan Stanley responded swiftly once it had notice of the breach. The company reviewed and, where necessary, remediated its network security protections and policies. The company also identified and terminated the employee; promptly alerted law enforcement; worked to remove the compromised data from the Internet; notified affected clients; and offered identity protection services to the clients (Gimeno, 2004).. Given the FTC’s praise for Morgan Stanley on these issues, companies are well advised to review, refresh and test their written incident response plans to see how they compare. Insider risk is widely viewed as one of the most daunting challenges in all of data security. After all, it is impossible to run a business without giving your employees liberal access to data and system resources (Cavusoglu, 2004). The closing letter is a reminder to companies in all industries that, however daunting the challenge may be the FTC sees robust efforts to tackle Snowden risk as a legal requirement.
51due留学教育原创版权郑重声明:原创优秀代写范文源自编辑创作,未经官方许可,网站谢绝转载。对于侵权行为,未经同意的情况下,51Due有权追究法律责任。主要业务有essay代写、assignment代写、paper代写、作业代写、论文代写服务。
51due为留学生提供最好的论文代写服务,亲们可以进入主页了解和获取更多代写范文提供论文代写服务,详情可以咨询我们的客服QQ:800020041。
Introduction
In January 2015, Morgan Stanley Morgan announced that its wealth management division of financial advisers to steal a number of 350,000 accounts data which representing nearly 10% of the bank's wealth management clients. Almost no compromise is the account of the thief's specific customers. In this case, it is obvious to find that cyber security problems, especially the data breach is become the serious question and drive more financial group will focus this issue. Some financial institution and regulators should get together to find a way to control this serious situation. In next section, some experts and scholars have their opinion for related topic.
Economic impacts of data breaches
Some researchers have studied that over the past few years, some security breaches have economic impact on the stock prices of listed companies. Campbell (2013) found violations, including unauthorized access to confidential information of high negative response. However, in 2006, after a wider data set. Acquisti (2006) found that the cumulative effect of data breach in violation of the announcement of lost its meaning, after the next day, so there is a very short.
Meanwhile, Gordon (2011) using a more complex market model and a set of comprehensive data found that investors attitude shift after 9/11. They conclude that security data breach have influence on stock returns is abate, because investors are starting to see irregularities "harassment", rather than the key of enterprise survival threat. Some reports assert that data breaches are affect turnover rate, the percentage of the existing customers for a period of time the company lost, and lead to direct or indirect costs of financial institutions. In these studies, Ponemon institute (2014) found that in 2014, financial institutions, from different countries, ten percent of abnormal turnover averaged rate are 6.1. The study also showed that in 2014 the per capita cost of data leaked to raise to $ 205 us companies, organization costs up to $5.96 million on average.
Cyber Security of Data Breach
While fast and easy access to customer information can improve efficiency, Hallen (2013) says it is easy to make data theft by others. Building data and network security policies to prevent the possible theft of information is the basis of the possible damage. He also mentions that the use of automated analysis to ensure that compliance with security policies to protect customers and corporate data assets is essential."
September 2014, the U.S. Federal Bureau of investigation and the U.S. Department of Homeland Security warned the increase of internal threats, he noted that the commercial network and server development disgruntled and former employees led to several important FBI investigators use them to destroy data access, steal proprietary software, access to customer information, purchase the use of unauthorized goods and services, and in a new company to obtain competitive advantage."
In December 2014, Norway Company staff pointed out that the recent SONY entertainment companies in data breach of the former SONY may be through the system administrator from the company was dismissed in May 2014. However, the recent survey found that IT SpectorSoft professionals, 59% cannot detect the internal threat, and 61% cannot stop them.
Threat may be internal for recent data breach
Morgan Stanley recently in New York federal court of criminal charges, which is the latest example of an increasingly common data leakage problem endangering sensitive personal information, for the enterprise to create a huge risk. This is also a reminder that the enterprise not only to prevent the hacker attack is outside, but also must address the risk of data theft or theft in the organization or insider people (NCSL, 2015).
What Morgan Stanley did right
Morgan Stanley responded swiftly once it had notice of the breach. The company reviewed and, where necessary, remediated its network security protections and policies. The company also identified and terminated the employee; promptly alerted law enforcement; worked to remove the compromised data from the Internet; notified affected clients; and offered identity protection services to the clients (Gimeno, 2004).. Given the FTC’s praise for Morgan Stanley on these issues, companies are well advised to review, refresh and test their written incident response plans to see how they compare. Insider risk is widely viewed as one of the most daunting challenges in all of data security. After all, it is impossible to run a business without giving your employees liberal access to data and system resources (Cavusoglu, 2004). The closing letter is a reminder to companies in all industries that, however daunting the challenge may be the FTC sees robust efforts to tackle Snowden risk as a legal requirement.
51due留学教育原创版权郑重声明:原创优秀代写范文源自编辑创作,未经官方许可,网站谢绝转载。对于侵权行为,未经同意的情况下,51Due有权追究法律责任。主要业务有essay代写、assignment代写、paper代写、作业代写、论文代写服务。
51due为留学生提供最好的论文代写服务,亲们可以进入主页了解和获取更多代写范文提供论文代写服务,详情可以咨询我们的客服QQ:800020041。
