On March 26, 2020, in light of the COVID-19 situation and contrary to a client?s instructions, an employee of the Organization deposited redemption funds directly into the client?s bank account, instead of mailing a cheque. The account was previously jointly held between the client and his former spouse. As a result of the payment, the former spouse was made aware of the transaction. The client had not updated his banking information. On April 6, 2020, the client discovered the breach and informed the Organization.

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