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The largest banks in Canada have been hacked

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The largest banks in Canada have been hacked
May 29
09:00 2018

Today, as a result of the cyberattacks on two Canada’s largest banks- the Bank of Montreal (BMO) and Canadian Imperial Bank of Commerce (CIBC), a leak of personal data from more than 90,000 customers have been reported. This information was presented by the agency Bloomberg.

Attackers sent out e-mails to the banks affected by the hacker attack with a demand to pay $ 1,000,000 in the cryptocurrency. The names of several dozen users and insurance numbers were attached to the letters. In addition, the hackers described how they had managed to bypass the security systems of banks.

Representatives of the management of CIBC and BMO banks reported that at the moment they had no evidence of the leakage. Both banks promised to return money to all of their customers, if they suffered as a result of the fraudulent cyber pirates.

The representative of the BOM Bank, Paul Gammal, said that the security service of the Canadian conglomerate suspected that the hacker attack had not been committed by the Canadians. The identity of blackmailers has not been established yet.

Banks in Canada quite rarely acknowledge hacking facts related to cybersecurity. First of all, this is due to the reputation and faith of investors in the future prospects of the bank.

We recall that this is not the first time when the situation happened. American credit organization Equifax reported a leak of 146.6 million usernames, 145.5 million social security numbers, 99 million addresses and 209,000 numbers of payment cards of the US customers as a result of cyberattacks.

At the time of the article publication, the shares of the fourth-largest creditor in  Canada Bank of Montreal and the fifth-largest – the Canadian Imperial Bank of Commerce ha fallen by 0.3% each. We follow the development of the situation.


The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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