Personal Finance

People Trust Hacked (Will you Move you Money)

  • Last Updated:
  • Jan 25th, 2014 2:39 pm
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Poll: Will YOu Move Your Money Away From People Trust?

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[OP]
Deal Addict
Dec 16, 2012
2025 posts
254 upvotes
Vancouver

People Trust Hacked (Will you Move you Money)

Hey

So like many of you today I got the letter saying personal information (including SIN) has been compromised but they don't think balances an such have been compromised.

Apparently they put some flag on the credit bureau to try to stop potential identity theft.

I personally not sure what I will do, I was going to transfer some money over but I paused that. On one side this could happen to any bank or company so switching won't solve this problem and secondly the damage has been done.

I wish they would offer some identify theft monitoring subscription for at least a year or 2. I think that would make me feel a bit better.

Thoughts?
186 replies
Deal Addict
Feb 24, 2007
1371 posts
55 upvotes
+1 on the offering of free identity theft monitoring, that should be mandated, they messed up and they should help alleviate it.
[OP]
Deal Addict
Dec 16, 2012
2025 posts
254 upvotes
Vancouver
halflife150 wrote:
Nov 1st, 2013 5:47 pm
+1 on the offering of free identity theft monitoring, that should be mandated, they messed up and they should help alleviate it.
Yep, I don't totally blame them(unless it was like extremely obvious holes or they neglected know holes) but they should offer something along those lines as everything is hackable but it happened and they should give us piece of mind.
Deal Addict
User avatar
Apr 10, 2010
1390 posts
191 upvotes
The flag they put on credit bureau also means you won't get instant credit card approval with banks that support it, for example AMEX. Every time you apply for any credit you will go through hoops to verify your identity with the company extending you credit. A major hassle.
Deal Addict
User avatar
Apr 10, 2010
1390 posts
191 upvotes
xiaobao wrote:
Nov 1st, 2013 6:35 pm
Yep, I don't totally blame them(unless it was like extremely obvious holes or they neglected know holes) but they should offer something along those lines as everything is hackable but it happened and they should give us piece of mind.
Unlike you, I totally blame them on this. Information security in banking is the most important thing. It doesn't matter whether it's extremely obvious holes or what, being a bank they screwed up like this, they will have to compensate, at least for 2 years of credit monitoring service with 2 bureaus.
Sr. Member
Mar 4, 2007
563 posts
447 upvotes
Halifax
I signed up for People's trust but when ING bumped their interest rates I figured I'd stick with them. Never sent the cheque to open the account. Got the letter today and glad I didn't give them my money....
Deal Addict
User avatar
Apr 10, 2010
1390 posts
191 upvotes
cheruboo wrote:
Nov 1st, 2013 7:00 pm
I signed up for People's trust but when ING bumped their interest rates I figured I'd stick with them. Never sent the cheque to open the account. Got the letter today and glad I didn't give them my money....
Don't be so glad. Your money is ok, but so is everyone else who actually deposited money with them. What's at stake is your identity information, which is compromised just like everyone else, even if you didn't go through with them after sending in the application.
Deal Addict
Oct 21, 2012
1377 posts
474 upvotes
Toronto
cheruboo wrote:
Nov 1st, 2013 7:00 pm
I signed up for People's trust but when ING bumped their interest rates I figured I'd stick with them. Never sent the cheque to open the account. Got the letter today and glad I didn't give them my money....
I would rather lose some money than having my info stolen.
Deal Addict
User avatar
Apr 10, 2010
1390 posts
191 upvotes
joey1234 wrote:
Nov 1st, 2013 7:08 pm
I would rather lose some money than having my info stolen.
Exactly.
Sr. Member
Mar 3, 2009
699 posts
191 upvotes
Ottawa, ON
I am a client, but have not gotten a letter yet.

Would someone be kind enough to scan to pdf and post here?

Thanks.
Member
Jan 20, 2007
464 posts
118 upvotes
Niagara
513263337 wrote:
Nov 1st, 2013 7:07 pm
even if you didn't go through with them after sending in the application.
I'm one of those people - can someone explain the steps that someone like me should do to protect themselves? Assuming PT won't help me since I'm not a client - what do people in my position do now?
Deal Addict
Aug 28, 2010
1047 posts
206 upvotes
Toronto
Why didnt I get an email? Is it only specific accounts?
Moderator
User avatar
Mar 23, 2004
37753 posts
3969 upvotes
Markham
I week be moving bbt money to pcf soon anyway so it's a moot point for me for now
「もし、奇跡を起こせたら……」
Moderator
User avatar
Mar 23, 2004
37753 posts
3969 upvotes
Markham
porchemasi wrote:
Nov 1st, 2013 7:38 pm
Why didnt I get an email? Is it only specific accounts?
snail mail
「もし、奇跡を起こせたら……」
Member
May 24, 2005
200 posts
18 upvotes
Vancouver
dr_torch wrote:
Nov 1st, 2013 7:27 pm
I am a client, but have not gotten a letter yet.

Would someone be kind enough to scan to pdf and post here?

Thanks.
Yatti420 posted the letter at another forum. I've copied it below (all thanks goes to Yatti420):

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I've reproduced this letter as a warning to all PTC members.. PTC Website (Applications) database has been accessed and presumably copied. You should assume your application and information has been compromised.. Italisicized-bolded text added for emphases

October 25th, 2013

RE: Important Notice Regarding Your Personal Information

Dear First Name Last Name,

As is common with most Financial Institutions, and indeed most successful companies, Peoples Trust is constantly on guard against undesirable third parties gaining access to our systems and data, and is repeatedly required to repel unwanted incursions. Over the past 25 years we have successfully fended off all attempts to compromise our systems. However during the past week of October 7th, we became suspicious of a few events that might indicate a possible intrusion into a database on our website. This database was totally separate from our banking systems so no banking information, such as balances, account numbers, logins or passwords could be obtained. As a precautionary measure, we immediately removed all data from this area and enhanced identification procedures and daily processes in our Deposit Services area to monitor for unusual activity pending a full investigation. To date we have seen no suspicious activity.

We retained a forensic investigator to identify the nature of the problem, extent and source of a potential data compromise. On October 11, 2013, the forensic investigator confirmed that a database used to collect on-line application information on our website was compromised by unauthorized access originating in the Peoples Republic of China. None of our banking systems were infected.

The personal information that may have been accessed on this database includes customer name, address, telephone number, email address, date of birth and social insurance number. We can confirm with confidence that your financial information, account data and password information have not been compromised in any way. However this incident may still place some customers at risk for identity theft. We have informed the Police and Canada's Privacy Commissioner, as well as the two major Canadian Credit bureau service providers. To mitigate the risk, Peoples Trust has arranged for a flag to be placed on your credit file which will alert companies accessing your credit information that your data may have been compromised and that lenders should take additional steps to verify your identity before transacting further. The notation will stay on your credit file for a period of 6 years unless you choose to have it removed.

It is not possible to verify the extent of access – or the amount of customer data that could possibly have been compromised – and we are hopeful the impact will be minimal, given the responses we've received from our customers to date (which has been limited to the receipt of a text message requesting a call to an inactive number).

Nothing is more important to Peoples Trust than the security of our customers' personal information. In addition to the steps we have taken, we would like to recommend the following to protect yourself from risk of identity theft or fraud:

- If you receive emails or text messages in the days ahead purporting to be from Peoples Trust asking for account or any other information, please consider that email or text to be fraudulent, and contact us immediately at 1-855-286-8505. Peoples Trust does not solicit account information from customers by email or text.

- Never respond to any unsolicited requests for your banking or personal information.

- As a precautionary measure, we recommend you monitor your accounts for any unusual activity and report any irregularities to to Peoples Trust immediately at 1-855-286-8505.

- You obtain a free copy of your credit file which may be done by calling the following services: Equifax Canada (1-800-465-7166) or TransUnion Canada (1-800-663-9980) and requesting a printed copy be delivered to you by mail. You may also obtain further information on removing the alert by visiting their websites: http://www.equifax.ca or http://www.transunion.ca

If you have any questions about this incident, how it may affect you and the steps Peoples Trust is taking to protect you and your personal information, please call our special information line at 1-855-286-8505. You can also contact Peoples Trust's Privacy Officer:

Darren Kozol, Privacy Officer
14th Floor, 888 Dunsmuir St
Vancouver, BC
V6C 3K4
PH: 604-331-2238
@: Privacy0@peoplestrust.com

Unfortunately, unauthorized privacy incursions are becoming more and more common all over the world. Peoples Trust will continue to take steps to safeguard your information with us. Moe information on personal information security and protecting yourself against identity theft is available from the Office of the Privacy Commissioner at http://www.priv.gc.ca . You should note that they provide a fact sheet on their website entitled "Identity Theft: What it is and what you can do about it" which may be of assistance to you in the present circumstances.

Peoples Trust deeply regrets that this occurred and is doing everything in our means to prevent an incident like this from happening again. Thank you for your understanding, and do not hesitate to call us if you have any questions or concerns.

Yours Sincerely,
Bill Moffatt
Chief Operations Officer
Peoples Trust Company
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