Desjardins Class Action Lawsuit Over 2019 Breach Settles For $200M

Exploit: Data Breach, Internal Threat
Company: Desjardins
Industry: Financial Services
Source: https://www.cbc.ca/news/canada/montreal/desjardins-data-breach-lawsuit-settlement-1.6288428

Update: Former Credit Union Employee Creates Data Breach Affecting 2.9 Million Customers

A settlement in a class-action lawsuit related to a 2019 data breach will see the Desjardins Group pay up to nearly $201 million. Eligible individuals affected by the breach are expected to receive a portion of the payment. The settlement applies to those who have held Desjardins credit cards or financing products, including members and former members as well as clients and former clients. The breach, which spanned over two years, affected roughly 9.7 million individuals across Canada.

Legal council representing the plaintiff said the agreement provides those impacted with compensation for loss of time and identity theft stemming from the breach. Desjardins is being held responsible for a series of internal technological and administrative gaps.

Further details of the settlement can be found at www.desjardinssettlement.com.

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