Desjardins spends tens of millions to address data breach incident

Desjardins Group has announced that it spent millions in costs related to the recent data privacy breach incident it reported in June.

Reuters outlined that the company spent $70 million in the second quarter in an announcement earlier this week.

The incident involved an employee who leaked the sensitive data of about 2.9 million members. The information leaked included names, addresses, birth dates, social insurance numbers, email addresses, and even data on transaction habits.

So many individuals were affected by the breach that even the former president of Desjardins found his data exploited.

Read more: Ex-Desjardins president falls victim to identity theft following major data breach

In response to the breach, Desjardins initially offered the affected accounts a credit monitoring plan and identity theft insurance for five years. The protection plan has since been expanded to include all members of the lending company, whether their data was exposed or otherwise.