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Class action against Government of Canada advances following 2020 CRA privacy breach

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The class action suit, which was initiated in August 2020, first requires certification from the Federal Court to determine if the case should, in fact, be dealt with as a class proceeding. To determine that, the court usually sees, among other factors, whether there is an identifiable class (a large group of affected people), an issue common to the class and if there is an appropriate representative plaintiff.

The representative plaintiff, B.C. resident Todd Sweet, claims that he logged into his CRA online account in July 2020 after being notified by email that his direct deposit information has been changed and that, on June 29, 2020, using his account, an unknown and unauthorized individual had made four applications for the Canada Emergency Response Benefit (CERB), a program initiated by the government to provide financial assistance to qualifying Canadians during the COVID-19 pandemic.

He is, the notice of certification document says, one of a potential class of thousands of people whose online accounts, accessed via the Government of Canada Branded Credential Service Key (GCKey), were vulnerable to hackers.

Of the 48,110 My Account users who were impacted, 12,700 saw the threat actor change the taxpayer’s direct deposit banking information and fraudulently apply for CERB. Employment and Social Development Canada (ESDC) accounts reportedly suffered the greatest impact from the attack.

The class action, hence, alleges that the government has been negligent in safeguarding the confidential information of Canadians, who suffered damages including costs in preventing identity theft, damage to credit reputation, mental distress, monies withdrawn from their bank accounts without their consent, time lost in communication with the CRA, ESDC and other government agencies, and more.

The government denies any wrongdoing.

The plaintiff is asking the court to order the Government of Canada to pay compensation for, among other things, the alleged breach of privacy, and for credit monitoring services that may be required to repair the harm caused.

Every affected person whose government online account was accessed via GCKey between Mar. 1, 2020 and Dec. 31, 2020 is automatically included in this class action.

If a class member wishes to opt-out, they can do so by emailing the class counsel, and no outcome – good or bad, would be applied to them.

The date for the trial has not yet been set.

The post Class action against Government of Canada advances following 2020 CRA privacy breach first appeared on IT World Canada.

 

This section is powered by IT World Canada. ITWC covers the enterprise IT spectrum, providing news and information for IT professionals aiming to succeed in the Canadian market.

 

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TD Bank announces new co-heads of U.S. commercial banking business

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Toronto-Dominion Bank has named new co-heads of its U.S. commercial banking business.

TD says Andy Bregenzer and Jill Gateman will jointly lead the operations.

The bank says the appointments follow the announcement earlier this year of Chris Giamo’s retirement.

Bregenzer will focus on leading all aspects of the regional commercial bank, including small business.

Gateman will lead TD’s national commercial banking effort in the U.S., including middle market, sponsor-backed finance and TD’s other specialty lending lines of business.

TD, which is working to resolve investigations into failures in its anti-money laundering program in the U.S., announced last week that chief executive Bharat Masrani would retire next year and be replaced by Raymond Chun.

This report by The Canadian Press was first published Sept. 26, 2024.

Companies in this story: (TSX:TD)

The Canadian Press. All rights reserved.

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Payments tech company Lightspeed Commerce conducting strategic review of business

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MONTREAL – Lightspeed Commerce Inc. says it is conducting a review of its business and operations including talks relating to a range of potential strategic alternatives.

The Montreal-based payments technology company made the comments after reports concerning a potential transaction involving the company.

Lightspeed says it periodically undertakes a review of its business and operations with a view of realizing its full potential.

A strategic review is often seen by investors as a prelude to a sale by a company.

Lightspeed says its board of directors is committed to acting in the best interests of the company and its stakeholders.

Company founder Dax Dasilva returned to the role of chief executive officer earlier this year and has been working to return the company to profitability.

This report by The Canadian Press was first published Sept. 26, 2024.

Companies in this story: (TSX:LSPD)

The Canadian Press. All rights reserved.

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National Bank receives Competition Bureau clearance for deal to buy CWB

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MONTREAL – National Bank of Canada says it has cleared a key regulatory hurdle in its proposed acquisition of Canadian Western Bank.

The Montreal-based bank says it has received the Competition Bureau’s clearance for the deal.

The transaction still requires approval by the Office of the Superintendent of Financial Institutions and the minister of finance.

Canadian Western shareholders voted to approve the deal earlier this month.

National Bank announced an all-stock deal to buy Canadian Western earlier this year in a proposal that valued the Edmonton-based bank at about $5 billion.

It has said its acquisition of Canadian Western will significantly expand its western footprint and create a stronger national competitor.

This report by The Canadian Press was first published Sept. 26, 2024.

Companies in this story: (TSX:NA, TSX:CWB)

The Canadian Press. All rights reserved.

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