Crooks Hack a Morgan Stanley Website; Defraud Unsuspecting Clients
Apr 11, 2002 12:00 PM
The clients of Morgan Stanley were duped into divulging confidential
financial information through a dummy Discover Bank Web site that
resulted in fraudulent credit card charges, according to a Morgan
Stanley broker whose own client was snared in the fraud.
In all, nearly 100 cardholders were tricked into divulging
confidential financial data by the fake site, according to the
Illinois-based Discover company. As a result, Morgan Stanley’s
Discover Bank card division has filed a lawsuit, alleging fraud. "The
dummy Website was strikingly similar to the actual Discover site," says
the Morgan Stanley rep.
The site has since been shut down.
The rep says his client revealed account numbers and passwords, as
did other cardholders, enabling the operators of the dummy site to make
purchases in cardholders' names. The amount of money fraudulently
obtained is unknown, the company says.
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