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Desjardins Group boosts security efforts after data breach

Desjardins Group has created a security office that will institute cross-sector security strategies, following a data breach in June that affected all of the financial group's 4.2 million members.

The security office will continue to protect Desjardins members and clients, their assets and their personal information and implement an industry-standard security reporting process, among other things.

Desjardins said its internal review and analysis allowed it to clarify the scope and scale of the information that the former employee responsible for the privacy breach had in their possession. It noted that credit cards and other payment methods, as well as passwords, security questions or personal identification numbers have not been compromised.

The company said it decided to extend to all its members and clients Desjardins Identity Protection, which protects accounts and assets in the company against unauthorized transactions. The service will provide individual support if a member's or client's identity is stolen, and may reimburse members and clients up to C$50,000 for expenses they incur to recover their identity.

Additionally, the company is "substantially increasing" its security budget moving forward.

Desjardins also said it will share findings of its new privacy protection and digital identity committee in the first quarter of 2020.