Simplii Financial Advises Clients of Potential Security Issue and Recommended Actions to Protect Their Personal Information

TORONTO, May 28, 2018  /CNW/ - Simplii Financial is advising clients that it has implemented additional online security measures in response to a claim received on Sunday, May 27, 2018 that fraudsters may have electronically accessed certain personal and account information for approximately 40,000 of Simplii's clients.

Immediately upon learning of the potential issue, Simplii began investigating to understand the claim and verify its accuracy. We also moved quickly to implement enhanced online fraud monitoring and online banking security measures.  In addition, Simplii will be reaching out to clients proactively through all channels.

"We're taking this claim seriously and have taken action to further enhance our monitoring and security procedures," said Michael Martin, Senior Vice-President, Simplii Financial.   "We feel that it is important to inform clients so that they can also take additional steps to safeguard their information."

In addition to the steps that Simplii has taken, we recommend that clients:

• Always use a complex password and pin (eg. not 12345)
• Monitor their accounts for signs of unusual activity

Clients who notice suspicious activity are encouraged to contact Simplii Financial. If a client is a victim of fraud because of this issue, we will return 100% of the money lost from the affected bank account.   

Simplii Financial is CIBC's direct banking brand. There is currently no indication that clients who bank through CIBC have been affected. 

About Simplii Financial™
Simplii Financial is committed to delivering simple, straightforward banking. With a fully mobile experience clients enjoy no-fee daily banking with no minimum balance and high interest savings rates.  Offering 24/7 access to online, mobile and telephone banking as well as access to a national network of over 3,400 CIBC ABMs, Simplii Financial delivers a simple and easy way to bank. Life's busy. Bank Simplii™. For more information about Simplii Financial please visit www.simplii.com or by following on Twitter @SimpliiFin or on Facebook.

SOURCE Simplii Financial

For further information: Olga Petrycki, Public Relations | 416-306-9760 | [email protected]