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A white-haired woman looks at her computer with concern as she realizes her important online data was breached.

BMO Bank Data Breach Investigation

Written by The Lyon Firm on . Posted in Data Breach.

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BMO Bank states on their website, “Security is our priority. When you bank with us, your identity and account details are protected by layers of security.” But the bank was allegedly another victim of a data breach that has left at least 56,000 BMO clients at risk with large amounts of personal data compromised. Contact our data theft lawyers to discuss possible legal action. 

Pension Benefit Information (PBI), on behalf of BMO Bank has begun sending out data breach notification letters to individuals impacted by the MOVEit file transfer cyberattack that has left millions at risk of identity theft and fraud.

Pension Benefit Information is a third-party vendor that provides audit and address research services for insurance companies, pension funds, and other organizations (such as BMO Bank). As the 8th largest bank in North America by assets, the San Francisco-based bank provides personal, commercial banking, and investment banking services to more than 13 million customers.

What Happened?

In May 2023, Progress Software, the provider of the MOVEit Transfer software, used by PBI, disclosed a vulnerability in their software that had been exploited by an unauthorized third party. MOVEit was used by numerous companies to “securely” transfer files. The files of hundreds of organizations, it turns out, were compromised and stolen by a hacking organization. Names, Social Security numbers, health information, financial account information, addresses and contact information was at risk.

Can I File a BMO Bank Data Breach Class Action?

The Lyon Firm can review your case, but it is likely that if you received notice of a data breach from PBI, BMO or any other entity, you may have a claim to recover damages. The Lyon Firm is currently representing plaintiffs in several states in cyber security and data privacy lawsuits.

We believe strongly that any company that collects and stores your sensitive data has a duty to protect it. Data security is essential to protecting yourself in a digital world. Contact our legal team to learn about the next steps you can take.