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

X Open Hub expands multi-asset offering with new cryptocurrencies and indices

X Open Hub, a multi-asset liquidity provider, announced today that it has extended its offering with inclusion of 30 new cryptocurrencies and two emerging market indices.

Retail FX

Interactive Brokers now offers 24/7 access to crypto trading

Interactive Brokers Group, Inc. (NASDAQ: IBKR) has widened access to cryptocurrency trading for its clients. Specifically, the discount broker extended trading hours for its cryptocurrency products to be traded 24/7, including on the weekends.

Inside View

Natural Language Generation for Multi-Language Social Media Strategies 

Natural Language Generation (NLG) is a crucial growth area in the digital landscape, with the unique potential to be used across multiple industries.

Market News, Technology

The B2Core Android App is Now Available For Download

The first version of the B2Core Android app is available for download, and it has many beneficial features for users.

Digital Assets

XBO taps custodian Fireblocks ahead of crypto exchange’s launch has integrated with digital asset and crypto technology platform Fireblocks ahead of the crypto exchange’s upcoming launch.

Industry News

Appital raises another £1.7m after integrating with FactSet, FlexTrade, and TS Imagine

“Appital has a proven track record in securing partnerships with major EMS providers, executing brokers and a trading venue to address the lack of efficiency and control over existing bookbuilding and deal distribution processes.”

Digital Assets

Tim Draper backs crypto-focused asset manager OSD in seed round

“The Old Street Digital team is well-positioned to provide access to a range of research-backed, crypto-based investment funds, and we at Draper Associates are excited to support them.”

Industry News

Swissquote launches mobile payments app TWINT

Swissquote has announced the launch of its own TWINT mobile payment app, effective today.

Institutional FX

Apex Group subsidiary EDB launches institutional banking solution

EDB’s solution enables clients to open multi-currency accounts and manage their day-to-day transactions, including global payments, FX requirements, and cash management through automated money market sweeps from a single online dashboard.