Canada Bank Sends Confidential Faxes to Scrapyard

TORONTO, Canada – Canadian Imperial Bank of Commerce said on Friday it was overhauling its privacy procedures after confidential information about hundreds of clients was mistakenly faxed to a scrapyard in the United States for three years.

The review comes after CIBC, Canada’s fourth-largest bank by assets, was notified of the problem for a second time by the scrapyard owner in West Virginia, who is also suing the bank for negligence.

Wade Peer told Toronto’s Globe and Mail newspaper that he has been deluged by internal CIBC fund transfer request forms to his business fax line since 2001. The forms contained information such as social insurance numbers and bank account data.

CIBC issued an apology to its customers on Friday evening and said it was instructing its branches to halt transmission of all internal faxes containing client information.

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