Kingsmill's Investment Miscellanea - Friday December 8th, 2023

December 08, 2023 | Joshua Kingsmill


Many of my clients (and many Canadian Investors for that matter) have reached out, as they have started receiving letters from Fund Companies, as well as their auditors at Ernst & Young. While we all might be familiar with the headlines that talk about “cyber-security breaches”, these are certainly more jarring when we are sent letters directly regarding data breaches.


Ernst & Young was recently named in the press, as they experienced a 3rd party software breach. These impacted millions of clients and financial institutions worldwide. While it wasn’t a breach on the part of the money manager, it was a global breach that exposed clients worldwide of some personal data. 


One of the remedies offered is a subscription to an online monitoring service, that provides real-time updates to clients credit reports. This service is entirely free. So, if any clients need to confirm that this isn’t Spam, we can help and provide more context.


We have attached a link that provides some tips and an overview of how these kinds of Cyber-attacks start, as well as the best practices that we can all incorporate. LINK


I too have been a recent victim of a cold-caller and had to have my cards cancelled.



Rules to follow:

  1. Never share personal or banking information over the phone
  2. Hang up and call the company’s official number to verify the request is genuine.
  3. If you accidentally share your banking information, call RBC immediately at 1-800-769-2511 (or go directly to a bank branch, which is what I did!)


Enjoy the weekend, and I don’t doubt that by this time next week, it will be “Ohtani Nation”, as the biggest Baseball player on earth will have signed the largest sporting contract in North American history: all thanks to Rogers.


Have a great weekend.