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February 24, 2005
Suit seeks $9-million for CIBC fax fiasco
Lawyers in Toronto have announced a class action law suit against the Candian Imperial Bank of Commerce seeking $9-million in compensation for clients who had their personal information faxed to a scrap yard in West Virginia.
In part, the suit alleges the Commerce Bank continued to send clients confidential information to the scrap yard for years after it was made aware of the problem. The suit was filed with the Ontario Superior Court February 4.
The CIBC fax scandal came to light when CTV and the Globe and Mail reported the bank had been sending customer information, including names, addresses, account numbers, account balances, social insurance numbers and even signatures to the American scrap yard. The problem appears to have been the result of the similarity of the scrap yard's fax number and that of CIBC's "central fax unit."
Wade Peer, the scrap yard owner had repeatedly contact the CIBC in an attempt to stop the faxes which were so frequent, his business suffered because legitimate faxes could not get through. The bank believed it had solved the problem, but the faxes continued and Mr. Peer chose to sue.
Even after the outrage was made public, CIBC faxes continued to be sent to Mr. Peer's fax machine.
Further Reading:
American scrap yard may have your private info (Max's Mewsings)
CIBC still doesn't get it (Max's Mewsings)
Class action announcement
Class action court filing
Posted by maxthecat on February 24, 2005 at 11:39 AM | Comments (0)
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