Data leak at Desjardins Group discloses personal info of 2.9m members

Maria Nikolova

The investigation has traced the leak to a single source: an ill-intentioned employee who acted illegally.

Canadian financial services provider Desjardins Group today posted an announcement informing its members of a data leak.

A Laval police investigation has revealed that the personal information of 2.9 million Desjardins’ members (2.7 million personal members and 173,000 business members) was disclosed to individuals outside Desjardins without authorization.

The investigation has determined that the source of the leak is an ill-intentioned employee who acted illegally. That person was fired.

The company explains that it has implemented additional security measures to ensure all its members’ personal and financial data remains protected.

AccèsD passwords (for both personal and business accounts), security questions and PINs were not compromised as a result of the leak. Desjardins insists that it has not been the target of a cyberattack. Its computer systems have not been compromised in any way by this incident.

The company says that its members’ assets and accounts at Desjardins are protected and that they will not suffer a financial loss if unauthorized transactions are made in their Desjardins accounts as a result of this situation.

All impacted members will receive a letter from Desjardins informing them of the situation and of what needs to be done.

Quebec’s Financial Markets Authority (AMF) today commented on the situation at Desjardins. The regulator says that this a very serious situation, which it is monitoring closely.

The AMF was informed of the situation shortly after it was discovered by Desjardins Group. The AMF is satisfied with the actions taken to date by Desjardins Group to protect the interests and assets of its members. It remains confident that the institution’s officers have handled the situation with due rigour, transparency and speed and that the cooperation provided to law enforcement is full and complete.

The major incident that happened to Desjardins Group today highlights the omnipresent risks to information security that all organizations must now contend with, the AMF notes.

  • Read this next

    Retail FX

    Weekly Roundup: John Oliver rips into MetaTrader, Binance to pay $10 billion

    Welcome to this week’s roundup, where we delve into the latest developments in the Forex, Fintech, and cryptocurrency markets. Stay ahead of the curve with our comprehensive overview of the week’s most impactful events and trends across these dynamic sectors.

    Retail FX

    Lark Funding reopens to US traders, MyFundedFX picks cTrader

    Canada-based prop trading firm Lark Funding announced it will once again welcome clients from the United States.

    Institutional FX

    Cboe FX volume falls to lowest level since summer

    Cboe’s institutional spot FX platform, known as Cboe Spot, today announced its trading volume for the month ending February 2024, which took a step back after a strong rebound in December.

    Retail FX

    ThinkMarkets secures lucrative DFSA license in Dubai

    Melbourne-based broker ThinkMarkets has secured a license from the Dubai Financial Services Authority (DFSA) after it has already incorporated its new subsidiary in the Dubai International Financial Center (DIFC).

    Digital Assets

    New Horizen Lays Out Its Vision Of A Modular, Proof Verification Layer For Web3 Networks

    Horizen is forging a new path for the future of blockchain with its New Horizen initiative, which is building a modular Proof Verification layer that’s dedicated to verifying cryptographic proofs for any settlement layer, beginning with Ethereum. 

    Digital Assets

    Karma3 Labs Raises a $4.5M Seed Round Led By Galaxy and IDEO CoLab to Build OpenRank, a Decentralized Reputation Protocol

    Using OpenRank, developers and web3 companies can build consumer apps where people can discover, use, fund, read, or buy something on-chain without worrying about getting spammed or scammed.

    Digital Assets

    Worldcoin down as Elon Musk sues OpenAI CEO Sam Altman

    Worldcoin’s (WLD) token dropped following news of a lawsuit against related company OpenAI. The lawsuit was filed by Elon Musk and accused OpenAI and CEO Sam Altman of breach of contract.

    Institutional FX

    Exegy’s Liquidity Lamp adds intraday data to outperform S&P 500 by 31.8%

    Exegy has incorporated intraday signals into its AI-powered iceberg order detection tool, Liquidity Lamp. By adding intraday data to a baseline mean reversion strategy, Exegy’s model outperformed the baseline by 10.5% and the S&P 500 (SPY) by 31.8%, respectively in the out-of-sample testing.

    Industry News

    Think Elon Musk backed your crypto exchange? ASIC’s latest reveal may shock you

    In an absolutely shocking turn of events that nobody could have possibly seen coming, the Australian Securities and Investments Commission (ASIC) has bravely stepped forward to reveal that, yes, those videos of Elon Musk passionately endorsing a cryptocurrency exchange are as fake as a three-dollar bill.

    <