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

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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.

 

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