Quebec’s AMF: data leak at Desjardins is more significant than originally announced

Quebec’s financial markets authority (AMF) has earlier today announced that Desjardins Group has been advised by the Sûreté du Québec (the police) that the data leak which occurred back in June 2019 is more significant than initially reported.

Let’s recall that, back in June, Desjardins that the personal information of 2.9 million Desjardins’ members (2.7 million individual members and 173,000 business members) was disclosed to individuals outside Desjardins without authorization. As per the latest information, the police informed Desjardins that the privacy breach appears to have affected the data of 4.2 million individual caisse members who do their banking with Desjardins in Quebec and Ontario.

Desjardins stresses that from July onward, all caisse members who do their banking with Desjardins in Quebec and Ontario have been protected by Desjardins identity protection. This protection is provided at no cost, and no registration is required. In addition, Desjardins is now extending the Equifax credit monitoring service to all caisse members.

Desjardins will commence sending activation codes to caisse members’ AccèsD inboxes next week. Members who received a letter after the announcement in June will not be contacted a second time. Members interested in viewing their Equifax credit report and receiving notifications of key changes to their credit will need to activate the service by April 30, 2020. Desjardins’ teams are currently working to find the best possible alternative for the caisse members who do not use AccèsD.

Desjardins would like to remind its members that there was no spike in fraud cases, either before or after the privacy breach was announced on June 20.

AMF notes that this is a very serious situation and that the regulator has kept a careful watch on from the outset. The regulator is staying in close contact with Desjardins in order to obtain all the necessary information regarding this new development.