Sat. Feb 24th, 2024

Payments of up to $935 are being made this week.

Desjardins: victims of identity theft compensated

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Victims of identity theft begin to receive the compensation provided for in the 2021 amicable settlement concluded between Desjardins and the law firms at the origin of two collective actions. (Archive photo)

  • Jérôme Labbé (View profile)Jérôme Labbé

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The first compensation awarded to Desjardins customers who were victims of identity theft after the gigantic data leak made public in 2019 is being paid these days, almost five years after the filing of two class actions that have since been filed. #x27;subject to an amicable agreement.

Interac e-transfer payments to approved members were scheduled to take place Tuesday, while paper checks will be mailed by Thursday, according to the website set up by RicePoint, the x27;settlement administrator. (New window)

The maximum amount awarded to victims of identity theft was to be $1,000, less a 2% ($20) deduction for the Collective Action Fund. This amount was, however, revised downwards, the annual ceiling for claims having been exceeded, explains RicePoint in the email sent to affected members.

Thus, Desjardins customers who were victims of identity theft and were hoping to receive $1,000 will ultimately receive a payment of $935.45.

To prevent fraud, RicePoint warns that no text messages will be sent. Members who have indicated that they prefer to receive payment electronically will instead be contacted by email and will be required to answer a security question to receive their dues.

This compensation for identity theft is offered in addition to the maximum compensation of $90 ($88.20) for loss of time paid last summer to Desjardins customers who had to take various steps related to the leak of personal information revealed by the financial institution in June 2019.

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These considerations arise from an out-of-court settlement of some $200 million reached in 2021 with Siskinds Desmeules and Kugler Kandestin, two law firms having filed class actions just 24 hours after the ;announcement of data theft by the cooperative movement.

The regulation, from which 413 members voluntarily excluded themselves, was approved by the Superior Court of Quebec in June 2022. The first notices of claim were sent to members the following month.

The agreement provides compensation of $168 million for loss of time and $32 million for identity theft. The law firms that led the class actions leading to the settlement shared 8.5 million in fees.

Unlike lost time claims, identity theft claims can still be submitted to RicePoint. Requests, which must be accompanied by documentary proof proving identity theft, can be sent to him until October 20, 2025.

The police investigation, meanwhile, continues, without any charges having been filed so far. It should come to an end next summer, predicts the Sûreté du Québec, which cites in particular the COVID-19 pandemic to explain the slowness of the process.

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