Why Morgan Stanley had to pay that $15m email fine
Two papers about IT security
And so to Reg Whitepapers to fossick this week for security nuggets. We struck a couple of good ones.
In 2006 Morgan Stanley agreed to pay a $15m fine to the Securities and Exchange Commission for repeatedly failing to produce emails during the course of investigations. Oh dear. This whitepaper, commissioned by Mimecast, argues that organizations that archive email in a "fractured" environment risk losing control and may struggle to produce evidential-quality email evidence.
This is a good read for anyone concerned with the management of email. The author, Stewart Room, is a lawyer and among other things, the president of the National Association of Data Protection Officers. He has also written a couple of text books. ‘Data Protection and Compliance in Context’ (2006), ‘Email: Law, Practice and Compliance’ (2008).
This is a long-ish whitepaper of two halves.
The first half outlines the value of the various approaches to network security: virus detection, firewalls, intrusion detection systems (IDS) and vulnerability management. There is also a comparison of the various approaches to vulnerability management. The thesis from IT security firm Qualys is that only on-demand security audits and vulnerability management provide a proactive approach, identifying network and device vulnerabilities before networks are compromised. The second half describes Qualys’s security solutions. ®
and you buy that
"organizations that archive email in a "fractured" environment risk losing control and may struggle to produce evidential-quality email evidence." and you buy that instead of "management would rather pay 15 million of shareholder money than go to jail, which is why they destroyed the evidence"? ..... heh
a) Email archiving and storage is fantastically complex on a large email estate, particularly with multiple datacentres SANs etc, it is therefore pretty interesting.
b) I'm currently working on an Email Archiving system's storage for a large UK bank, we're archiving 160k Exchange mailboxes at a transaction level and storing them on Centerra for seven years. We're spending significantly less than $15M (assuming that $15M=£7.5M) and that includes software, servers, DMX arrays, Centerra, backup systems and all of this duplicated realtime across Prod and DR sites.
(a) this is the dullest topic in the history of mankind, including accounting.
(b) $15M dollars? Peanuts for Morgan Stanley, and much cheaper than all of that expensive hardware to solve the problem.