Natasha Kumar reports: Documents made public by the court on Monday at the request of the media reveal new details about the intentions of the ex-Desjardins employee unmasked by the financial institution in the spring of 2019. […] During this meeting, Sébastien Boulanger-Dorval implored to obtain unemployment and not to have criminal charges as well…
Category: Financial Sector
FTC Finalizes Order with Mortgage Analytics Firm, Requiring it to Strengthen Security Safeguards, Increase Oversight of Vendors
In December, 2020, the FTC announced a proposed settlement with Texas-based Ascension Data & Analytics after a security breach involving one of its vendors resulted in the exposure of, and unauthorized access to, consumers’ mortgage applications. One year later, the settlement received final approval, as the FTC announced on December 22: The Federal Trade Commission…
Morgan Stanley to pay $60 million to resolve data security lawsuit
Jonathan Stempel reports: Morgan Stanley agreed to pay $60 million to settle a lawsuit by customers who said the Wall Street bank exposed their personal data when it twice failed to properly retire some of its older information technology. A preliminary settlement of the proposed class action on behalf of about 15 million customers was…
Desjardins reaches $200M class action settlement in wake of data breach
The Canadian Press reports that Mouvement Desjardins has reached a $200-million settlement with plaintiffs in a class action suit launched after a massive data breach in June 2019. The settlement has to be approved by the Superior Court of Quebec. Read more at Montreal Gazette. A press release issued by plaintiffs’ counsel states, in part:…
Za: Standard Bank on delay in telling public about data breach: ‘We complied with the law’
Londiwe Buthelezi reports: Standard Bank says it took several days to disclose the latest data breach on its LookSee platform because its immediate focus was to get to the bottom of the issue first and understand how serious it was. The banking group informed the public on 9 December that homeowners’ data was compromised by…
Canadian federal privacy commissioner says BMO security breach in 2017 affected 113,000 client accounts
James Bradshaw reports: A 2017 data breach that exposed personal information belonging to more than 113,000 Bank of Montreal customers exploited “significant weaknesses” in the bank’s safeguards that have since been strengthened, according to a report from the Privacy Commissioner of Canada. BMO previously disclosed the breach in May, 2018, after receiving a ransom demand…