CIBC Customer Shocked After $260K Mortgage Taken Out in Her Name Without Warning
A shocking incident has left a CIBC customer in disbelief after discovering that a $260,000 mortgage had been opened in her name without her knowledge or consent. The woman, Hailey Leo, who lives in Langley, B.C., was left horrified when she logged into her CIBC account one day and noticed several disturbing changes. Her personal information had been altered, with her address switched to Fort Saskatchewan, Alberta, and three different phone numbers added to her account—all without any notification or warning from the bank.
The trouble began on February 14, 2025, when Leo noticed that something was amiss. She immediately contacted CIBC to investigate, only to be told that her account had been frozen and that the issue was being resolved. After waiting several hours, the bank assured her that a new account had been opened in her name, and everything was back to normal. However, her nightmare didn’t end there.
Just 11 days later, Leo encountered more problems. When she tried to access her online banking again, she found herself locked out once more. No calls, no emails—no communication from the bank. Upon contacting CIBC again, Leo was informed that not only had her information been tampered with again, but a mortgage had been opened in her name for $260,000 in Fort Saskatchewan, Alberta. To her astonishment, she had not applied for any mortgage.
This situation raises serious questions about how such a significant transaction could occur without her involvement or consent. Leo expressed her shock and disbelief, asking, “How did this happen?”
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CIBC responded with a statement, claiming that no fraud or identity theft had occurred. The bank attributed the issue to a “processing error” limited to Leo’s account and assured that they were working on resolving it. However, this response failed to satisfy Leo, who was left wondering how her personal information had been altered in the first place without her knowledge.
As if this wasn’t enough, Leo learned that another person with the same name, who also lived in Fort Saskatchewan, had been involved in the mortgage transaction. This led to more confusion and frustration, as the individual explained they too had been facing issues with CIBC regarding the mortgage.
Cybercrime expert Claudiu Popa voiced concerns about the bank's response, suggesting that the lack of detailed communication only heightens customer anxieties. He stressed the importance of banks educating the public about protecting their personal information, especially given the sophistication of modern threats, including multi-factor authentication being compromised.
For individuals like Leo who find themselves in a similar predicament, Popa recommends swift action. He advises consumers to reach out to the Ombudsman For Banking Services and Investments, the Office of the Privacy Commissioner of Canada, and the Financial Consumer Agency of Canada. He also suggests obtaining a statement from the bank to clear one's name and ensure that no damage is done to their credit rating.
Despite CIBC’s assurances that an investigation was underway, Leo has lost trust in the bank. She has since moved her funds to a different financial institution, citing security concerns as her main reason. "Is all of our information protected?" she asked, voicing what many customers may be wondering after hearing about this shocking case.
This incident serves as a stark reminder of the vulnerabilities that still exist in digital banking and raises significant concerns about how well our personal information is truly safeguarded by financial institutions.
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