Received a Payment from Desjardins Class Action—Is It a Fraud?
The recent wave of payments from the Desjardins Class Action Settlement has sparked questions regarding their legitimacy. If you are among the approximately 28,300 individuals who suffered identity theft due to a data breach at Desjardins, you were required to submit a claim before October 20, 2025, to receive your compensation. Claims can no longer be submitted at this time.
Receiving Your Payment from Desjardins Class Action
Payments can be received by either cheque or electronic transfer. The payment amount is fixed at a maximum of $1,000 per claimant, and your method of payment was chosen during the claims process.
Cheque Payments
- If you opted for cheque payments, simply wait for it to arrive by mail.
- Cheques will be sent out by January 18, 2024, at the latest.
Electronic Transfers
For those who chose electronic transfer, the process involves additional steps:
- You will receive an Interac transfer notification via email.
- No text message notifications have been sent; any other communication may indicate a fraud attempt.
- To verify your identity, you must answer one of the three security questions set during your claim submission.
Ensure your answers consist only of letters and numbers. Special characters, accents, and spaces are not allowed. Failure to answer three questions correctly will block your payment. If you experience issues, contacting RicePoint for assistance may allow you to receive a cheque instead.
Phased Payment Schedule
The payments are distributed across three phases, with all payments expected to be completed by January 18 in the years 2024, 2025, and 2026. Additionally, compensation for “loss of time,” amounting to a maximum of $90 per affected client, was distributed in July 2023.
Impact of the Security Breach
The data breach affected 4.2 million individual members and numerous business members of the Desjardins Group. In 2019, Desjardins reported a financial impact of $108 million due to the leak. At that time, Guy Cormier, the president of Desjardins, stated that this amount represented less than 1% of the cooperative’s revenue, which was $18 billion. The total for claims over the three years amounts to $67 million.
As questions arise about receiving a payment from the Desjardins Class Action, it is crucial to ensure the legitimacy of your notification and adhere to the claimed methods of payment. Protect yourself from potential fraud by following these guidelines.
