This was on the TD Waterhouse Website this morning
22-Jan-2007 5:10:00 PM EST
Canadian Imperial Bank of Commerce (CIBC) has issued a statement revealing that it has lost a file that may have contained confidential information of current and former clients of Talvest Mutual Funds.
It has been identified that this potential privacy breach may affect a number of TD Waterhouse clients who hold, or have previously held, Talvest Mutual Funds.
CIBC continues to investigate the root cause of this incident, and has confirmed that they will be contacting all affected clients.
For more information or assistance please contact us at the phone number located on your account statement.
2007-01-23, 11:05 AM
This happend around XMAS and made the news (again) because the government decided to look into it. No evidence(yet) of any data being used improperly, just something went "missing".
Press release from 01/18
Talvest Mutual Funds, a family of funds managed by CIBC Asset Management, is announcing today that a backup computer file containing client information has recently gone missing while in transit between its offices.
This issue affects only certain current or former Talvest Mutual Fund holders, the majority of which have non-CIBC advisors. It does not impact CIBC mutual fund holders or CIBC clients who do not and have not owned Talvest funds.
The backup file contained information relating to the process used to open and administer approximately 470,000 current and former Talvest client accounts and could have included clients’ names, addresses, signatures, date of birth, bank account numbers, beneficiary information and / or Social Insurance Numbers.
While there is no evidence to suggest this file has been accessed, CIBC Asset Management has taken a number of precautionary measures to protect Talvest clients including:
Notifying all affected clients by letter.
Compensating any affected Talvest clients for monetary loss that arises directly from unauthorized access of personal information contained on this file.
Providing affected Talvest clients the opportunity to enrol in a credit monitoring service at no cost. This service will provide added security on client credit files at major Credit Reporting agencies.
Advising affected Talvest clients to regularly review activity on all their financial accounts and report any unauthorized activity immediately to their financial institution.
Working with the police to investigate this incident and retrieve this backup file.
“We are in the process of contacting affected Talvest clients by letter to advise them of this issue and to detail the steps we are taking to safeguard their information,” said Steve Geist, President of CIBC Asset Management. “Although, we have no evidence that the information contained in the backup file has been accessed in any way, we are acting out of an abundance of caution and want to assure our clients that we are taking all steps possible to address this matter. Any issue that causes disruption to our clients is of great concern to us and we regret any inconvenience this may cause our Talvest Mutual Fund Clients.”
A dedicated service team and website have been put in place to deal with affected Talvest client enquiries. If you receive an inquiry regarding this matter from a client, please direct them to the dedicated team at 1-866-844-0280 (English) or 1-866-844-0494 (French). Talvest clients may visit https://www.talvest.com for more information.
All media inquiries must be directed to CIBC Media Relations at 416 980-3714.