BMO and Simplii Financial Privacy Breach

Active Action

Siskinds LLP and JSS Barristers commenced a proposed class action against Canadian Imperial Bank of Commerce (“CIBC”) and a proposed class action against Bank of Montreal (“BMO”). The proceedings, filed in the Ontario Superior Court of Justice, arise from the recently disclosed cybersecurity breaches involving CIBC’s direct banking division, Simplii Financial, and BMO. According to the defendants, the data breaches resulted in the theft of sensitive personal information of up to 40,000 clients of Simplii Financial and up to 50,000 clients of BMO.

The class actions, brought on behalf of the affected clients of Simplii Financial and BMO, allege that each bank failed to establish robust security measures reasonably required of it to protect its clients’ personal information. The lawsuits seek general, compensatory, consequential and punitive damages on behalf of the affected Simplii Financial and BMO clients.

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