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03/31/2022

Morgan Stanley Wealth Management accounts breached in ‘vishing’ attacks

SC Media

Earlier this week, Morgan Stanley Wealth Management said cybercriminals broke into accounts using social engineering attacks, according to reports.

Using voice-based phishing, or “vishing,” attackers impersonated the trusted financial firm during phone calls to customers, where they encouraged customers to reveal sensitive personal and financial information including banking or login credentials. The fraud attacks, which largely took place in February, resulted in fraudsters electronically transferring money to their own bank account by initiating payments using the Zelle payment service. The small number of clients impacted by the attack were reimbursed, according to a statement from Morgan Stanly Wealth management.

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