Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2021
Desjardins agrees to settle data-breach class action
Settlement
Desjardins Group agreed to pay up to nearly $201 million to settle a class-action lawsuit related to a 2019 data breach affecting nearly 9.7 million Canadians. The agreement is subject to approval by the Quebec Superior Court.
Source excerpt
The agreement, which is subject to approval by the Quebec Superior Court, would allow eligible individuals who were affected by the privacy breach announced in June 2019 to receive a payment.
Financial services firm Desjardins Group will pay up to nearly $201 million to settle a class-action lawsuit related to a data breach in 2019 that affected nearly 9.7 million Canadians.
announced Dec. 16 it has reached a proposed C$201 million (U.S. $155 million) settlement agreement in a class-action lawsuit following a long-running data breach that ultimately compromised the personal information of nearly 10 million individuals in Canada and abroad.
2019
Desjardins customer-data breach
Desjardins disclosed unauthorized access to personal information relating to approximately 4.3 million individual users and 173,000 businesses. The organization said the breach was detected in December 2018 and resulted from a disgruntled corporate employee who accessed and copied customer data over time rather than from a direct external cyberattack. A police investigation was reported as ongoing. Desjardins notified affected individuals, offered credit-monitoring, identity-protection and cybersecurity-response measures, cooperated with authorities and committed to strengthening information-security controls. The incident generated regulatory and public scrutiny of privacy governance and cybersecurity practices at the cooperative financial group.
2019
Unauthorized access to member and customer data
Desjardins disclosed that a former employee had improperly accessed personal information associated with millions of members and customers. The incident generated regulatory and public scrutiny and led to notification, credit-monitoring, identity-protection and cybersecurity-response measures.
2019
Desjardins discloses expanded data breach scope
Issue disclosure
Desjardins Group announced that an earlier data breach affected 4.2 million members, a larger scope than previously believed. The organization also stated that the breach affected banking members in Quebec and Ontario. The disclosure expanded the known impact of the incident beyond earlier estimates.
Desjardins announced that an earlier data breach affected 4.2 million members, a larger scope than previously believed. It also said the breach affected banking members in Quebec and Ontario.
Company response
Remediation — Desjardins
It will now extend its Equifax credit monitoring to all of its members.
Source excerpt
It will now extend its Equifax credit monitoring to all of its members.
Desjardins Group has announced that a massive data breach from earlier this year is much larger in scope than previously believed and has affected 4.2 million of its members.
Desjardins specified on Friday that the breach affects banking members in both Quebec and Ontario.
2019
Desjardins says breach may affect 1.8 million more credit-card holders
Issue disclosure
Desjardins disclosed that personal information belonging to about 1.8 million credit-card holders who were not members may have been compromised in the breach. The company said the information was not stolen or found with third parties, and that payment-card data and credentials were not compromised.
Company response
Remediation — Desjardins
As a result of the latest developments, Desjardins said Tuesday it has decided to extend its identity protection program to all its members and clients.
Source excerpt
About 1.8-million holders of credit cards who are not Desjardins members may have had their personal information compromised, chief executive officer Guy Cormier said Tuesday.
privacy breach at Mouvement Desjardins now extends to Mastercard and Visa credit cards.
The rogue employee at the centre of the leak — who has since been fired — had access to banking details such as loans and savings, the CEO said on a conference call with reporters.
2019
Desjardins CEO defends bank after data breach
Company response
Desjardins Group President and CEO Guy Cormier defended the bank before Quebec legislators following the theft of client data by an employee. He said the company had fired the employee and developed new protections.
Company response
Personnel action — Desjardins
We fired the employee at fault.
Remediation — Desjardins
We developed new protections that are unequalled in Canada and also in a record time.
Source excerpt
Cormier said since June, he company has “worked hard. We fired the employee at fault. We developed new protections that are unequalled in Canada and also in a record time.”