Morgan Stanley Health Benefits and Insurance Plan
Your Personal Info Could Be
Exposed Online After
This Hospital Breach
Breach Description
The breach at Morgan Stanley Health Benefits and Insurance Plan in New York involved the private information of a large number of individuals potentially being stolen due to a hacking incident on the company’s information network[3]. The exact number of affected individuals is not specified in the search results, but a tweet from the OCR New Breaches account mentions that 2,442 individuals were affected by a breach submitted on January 4, 2024[15].
Cole & Van Note, a consumer rights law firm, has announced an investigation into the breach on behalf of the affected consumers/clients[3]. The firm is looking into the possibility of recovering compensation for those who have suffered losses due to the breach and is offering free evaluations for those who may have been impacted[3].
The U.S. Department of Health and Human Services Office for Civil Rights Breach Portal has listed the breach, indicating that it involves unsecured protected health information[1]. However, the details of the breach, such as the specific types of information compromised and the circumstances leading to the breach, are not provided in the search results.
Morgan Stanley has previously faced issues with data security, as evidenced by a $35 million penalty imposed by the SEC for lapses that led to the improper disposal of unencrypted hard drives and backup tapes, which exposed the data of 15 million customers[7]. Additionally, Morgan Stanley agreed to pay $6.5 million to resolve investigations by attorneys general from six states over data breaches[9], and a separate $60 million to resolve a class action lawsuit related to data breaches that occurred in 2016 and 2019[11].
It is important for individuals who have received a notification about the breach or suspect they may be affected to take steps to protect their personal information and consider reaching out to legal counsel for advice on potential compensation[3].
Citations:
- https://ocrportal.hhs.gov/ocr/breach/breach_report.jsf?ref=blog.gitguardian.com
- https://www.investors.com/news/technology/cybersecurity-stocks/
- https://www.newstrail.com/cole-van-note-announces-morgan-stanley-health-benefits-and-insurance-plan-data-breach-investigation/
- https://www.plumbenefits.com
- https://www.cnbc.com/2023/07/20/morgan-stanley-financial-advisor-ponzi-scheme.html
- https://www.cnbc.com/2024/02/14/ai-is-changing-the-cybersecurity-industry-why-these-two-stocks-look-best-positioned-to-capitalize.html
- https://www.infosecurity-magazine.com/news/morgan-stanley-pay-dollar35m-sec/
- https://www.cnbc.com/2024/02/14/outlook-on-japan-stocks-and-how-to-invest.html
- https://www.law360.com/articles/1767610/morgan-stanley-to-pay-6-5m-to-6-states-over-data-breaches
- https://www.bloomberg.com/opinion/articles/2024-02-07/used-porsche-evs-are-getting-cheaper-as-residual-values-tumble
- https://topclassactions.com/lawsuit-settlements/closed-settlements/morgan-stanley-data-breaches-60m-class-action-settlement/
- https://www.trinet.com
- https://www.morganstanley.com/atwork/articles/dol-cybersecurity-employers
- https://www.washingtonpost.com
- https://twitter.com/OCRNewBreaches/status/1747659483965227195
- https://www.businessinsider.com