Canadian Underwriter

CIBC’s Simplii says fraudsters may have accessed data of 40,000 clients


May 28, 2018   by The Canadian Press


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Photo copyright: 123RF.com/welcomiaSimplii Financial says fraudsters may have electronically accessed certain personal and account information for approximately 40,000 of its clients.

Simplii, which is CIBC’s direct banking brand, says it learned of the potential issue yesterday and has implemented additional online security measures as it continues to investigate.

The changes include enhanced online fraud monitoring and online banking security measures.

Simplii says it will be reaching out to clients and customers who notice any suspicious activity should contact the bank.

It adds that clients who are victims of fraud because of the issue will receive 100% of the money lost from the affected bank account.

Simplii says there is no indication that clients who bank through CIBC have been affected.

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This story was originally published by Canadian Insurance Top Broker.