Desjardins spends CAD 70m related to data breach
Canadian lender, Desjardins Group, has spent CAD 70 million ($53 million) in the second quarter related to a data privacy breach earlier this year that exposed personal information of 2.9 million members, according to Reuters.
The company offered the affected accounts a credit monitoring plan and identity theft insurance for five years, without any additional costs to those customers.
Unauthorised use of internal data by an employee led to breach of personal information including social insurance numbers, addresses and details of banking habits, the company said last month.
Last year, Bank of Montreal and Canadian Imperial Bank of Commerce said that cyber attackers may have stolen data of nearly 90,000 customers in what appeared to be the first significant assault on financial institutions in the country.