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#MorganStanley #Cybersecurity #China
Morgan Stanley blocks remote access for interns in China over cybersecurity concerns
According to sources quoted by Financial Times, foreign companies have increasing concerns over China’s stiffening cybersecurity rules as tension with the US grows. Another source quoted by FT also mentioned Morgan Stanley’s own network system poses vulnerabilities.
As Morgan Stanley employees began returning to regular work, their summer interns in China originally had an option to complete their internships remotely like their global counterparts. However, shortly before the internship program started on June 29, the bank changed its decision and was no longer allowing interns to login to the company’s virtual network from China.
Sources quoted that China’s tough cybersecurity law, updated in early June, the new law looks at businesses’ critical information infrastructure and cross border customer data. Even information posted online could be subject to scrutiny.
With tension rising between China and the US, Morgan Stanley has decided not to take the risk to allow interns to work in an unsupervised environment, as the organization own virtual network also risks being exposed to cyberattacks.
Other investment banks operating in China, including Goldman Sachs, Bank of America and JPMorgan, are still allowing interns to work completed remotely at home.
Source: Stand News #Jul23
#MorganStanley #Cybersecurity #China
Morgan Stanley blocks remote access for interns in China over cybersecurity concerns
According to sources quoted by Financial Times, foreign companies have increasing concerns over China’s stiffening cybersecurity rules as tension with the US grows. Another source quoted by FT also mentioned Morgan Stanley’s own network system poses vulnerabilities.
As Morgan Stanley employees began returning to regular work, their summer interns in China originally had an option to complete their internships remotely like their global counterparts. However, shortly before the internship program started on June 29, the bank changed its decision and was no longer allowing interns to login to the company’s virtual network from China.
Sources quoted that China’s tough cybersecurity law, updated in early June, the new law looks at businesses’ critical information infrastructure and cross border customer data. Even information posted online could be subject to scrutiny.
With tension rising between China and the US, Morgan Stanley has decided not to take the risk to allow interns to work in an unsupervised environment, as the organization own virtual network also risks being exposed to cyberattacks.
Other investment banks operating in China, including Goldman Sachs, Bank of America and JPMorgan, are still allowing interns to work completed remotely at home.
Source: Stand News #Jul23