Reports suggest BMO received far more customer complaints in 2023 than other Canadian banks

  • 📰 ctvottawa
  • ⏱ Reading Time:
  • 110 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 47%
  • Publisher: 67%

Canada Headlines News

Canada Latest News,Canada Headlines

According to the Ombudsman for Banking Services and Investments (OBSI) 2023 annual report, there was a 248 per cent increase in the number of opened banking cases in 2023 compared to 2022.

After receiving a suspicious phone call, she drove straight to the bank and minutes later, was reassured that all of her money was still in her account and had not been stolen.

One reason for the uptick is changes to the Bank Act Consumer Protection Framework that came into effect on June 30, 2022, which changes the way banking complaints are handled. Bradley tells CTV News there are about 55 people working on the OBSI’s investigative team and the organization plans to bring in more staff to help meet the growing demand.

BMO and CIBC are the only two Canadian banks that are members of the OBSI. The organization reported 614 opened cases involving CIBC last year. In 2022, that bank saw 226 opened cases. The bank, quoting the OBSI's annual report, stresses that the number of cases reported is not necessarily a negative indication.

"However, there are important differences in how we record and report cases, so direct comparison may not be accurate.” Dustin Heywood is the chief architect of IBM X-Force, a cybersecurity “threat-centric" team of hackers, responders, researchers and analysts.“Cybercriminals will break into an organization, extract as much data as they can and then sell it to low-level street criminal effectively along with scripts saying here’s how to extract money,” he said.

The woman charged in connection with a dog attack in Toronto that left a nine-year-old child with 'life-altering injuries' has previously been found by a court to be an irresponsible dog owner, CTV News has learned.RCMP say the four adults found dead at a farm about five kilometres northeast of Neudorf, Sask. Sunday evening were all members of the same family.

Ontario is facing a larger than anticipated deficit but the Doug Ford government still plans to balance its books before the next provincial election. Officials in Quebec say there are measures in place to prevent tragedies like the one in Baltimore on Tuesday after a cargo ship flattened the Francis Scott Key Bridge.A building in downtown North Bay is destroyed after a fire broke out overnight and 2,000 patients from a nurse practitioner-led clinic have been displaced as a result.Ontario is facing a larger than anticipated deficit but the Doug Ford government still plans to balance its books before the next provincial election.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 29. in CA

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Shopify's surge saw 85% of Canadian stock pickers trail targetsFor Canadian stock pickers, success in 2023 hinged almost entirely on whether they held Shopify Inc.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Toronto reports 21 mpox cases so far this year, after 27 cases in all of 2023Toronto Public Health says 21 cases of mpox have been confirmed in the city since the start of this year compared with a total of 27 cases for all of 2023.
Source: sudburydotcom - 🏆 6. / 89 Read more »

Toronto reports 21 mpox cases so far this year, after 27 cases in all of 2023Toronto’s health unit is encouraging eligible residents to get vaccinated against the virus formerly known as monkeypox amid the rise in cases
Source: globebusiness - 🏆 31. / 66 Read more »

Toronto reports 21 mpox cases so far this year, after 27 cases in all of 2023Toronto Public Health says 21 cases of mpox have been confirmed in the city since the start of this year compared with a total of 27 cases for all of 2023.
Source: SooToday - 🏆 8. / 85 Read more »

Canadian Premier League's Cavalry FC and Vancouver FC to Kick Off Canadian ChampionshipThe Canadian Premier League's Cavalry FC and Vancouver FC will kick off the Canadian Championship on April 23 in Calgary. Major League Soccer's Toronto FC will also take on League1 Ontario's Simcoe Country Rovers FC at Toronto's BMO Field on April 24. The preliminary stage will wrap with the CPL's HFX Wanderers hosting Ligue1 Quebec's CS St-Laurent on May 2. The six preliminary stage winners will advance to the quarterfinals, joined by reigning champion Vancouver Whitecaps and runner-up CF Montreal, both of whom received byes.
Source: CP24 - 🏆 30. / 67 Read more »

U.S. ‘Havana syndrome’ reports raise concerns, Canadian diplomats’ lawyer saysThe lawyer for Canadian diplomats suing Ottawa over 'Havana syndrome' criticized a report on the symptoms that have been reported by American and Canadian diplomats.
Source: GlobalCalgary - 🏆 50. / 61 Read more »