The employee of the company's wealth management business reportedly intended to sell passwords of its clients after the leaking their names and account numbers, Fox News reported, citing Morgan Stanley's spokesperson.
On December 27, 2014, Morgan Stanley discovered that 900 of its clients' names and account numbers were stolen and posted online by an employee. The employee has been fired, an undisclosed source from the company said, the news channel reported. However, a recent inquiry revealed the larger scale of the data theft.
The bank did not provide any details on the name, gender and position of its employee. US law enforcement agencies are currently investigating the case.
Meanwhile, the bank stated that it was going to strengthen its data security, despite the fact that its network was not hacked. It also emphasized that its clients' savings were not affected, Fox News reported.
The incident led to a drop in Morgan Stanley's shares on Tuesday. Earlier in the day, they fell by 3.4 percent, reaching $37.39, according to Fox News.
