For some time now, hacking of personal information seems to be on the increase in the financial sector: Desjardins, Groupe Cloutier, Mackenzie, Franklin-Templeton.
Despite all the precautions we and our suppliers take to protect your data, you can see that no protection is infallible. Rest assured that it's not your investments that are being targeted, but our first and last names and social insurance numbers.
Accessing your investment accounts is much more complex.
There is a simple and effective way to protect yourself from the consequences of these hacks. We can't stop the wind from blowing, but we can install shutters on our windows.
As of February 1, 2023, new legislation introduced by the Quebec government in the wake of the Desjardins incident requires credit agencies such as Equifax and TransUnion to offer Quebec residents a free security freeze on their credit file.
A security freeze is a protective measure designed to prevent fraudulent use of your personal information. It temporarily blocks the transmission of your information held by credit agencies (Equifax and TransUnion) to companies or individuals wishing to consult your credit file. The credit file freeze option is a superior protection to the credit monitoring service.
In conclusion, we want you to know that we believe the most effective way to protect you from the majority of the consequences of these security breaches is to freeze your credit file. If necessary, when you renew your mortgage, for example, you can temporarily unfreeze it so that the bank can carry out its checks.
To set up this protection, see the following links:
We invite you to consult the Radio-Canada text.
We remain available should you have any questions.