Information & Ethics committee  CIBC shares the same views as the other witnesses.

Information & Ethics committee  For the free credit bureau monitoring, we have a relationship with the credit bureau. Our clients can go onto our site and they can sign up for this service. Then when the credit bureau gets an inquiry on the client's account, what happens is they pass the information back to us,

Information & Ethics committee  From CIBC's perspective, we tend to monitor fraud at a much lower, more granular level. Some of it's operational and organizational, where we have, say, a team that's responsible for identity theft. We have a dedicated identity theft team. They have a defined set of duties and re

Information & Ethics committee  There is actually a variety of them. You have listed quite a few. The core is that we see a considerable number of phishing e-mails; we see malicious software on the clients' computer—that is one I would highlight as highly problematic—and we see clients providing their informati

Information & Ethics committee  Certainly the card-based fraud, such as the copying of debit and credit cards, is the area in which you tend to see the larger organized crime groups involved. But when you get into phishing and malware, the barriers to entry for fraudsters to get in are considerably lower. You c

Information & Ethics committee  I can continue, if you'd like. Certainly, looking at some of those electronic access agreements is somewhat intimidating for consumers. But from a bank's perspective, we try to understand that our clients are not technology experts and are not information security experts, and s

Information & Ethics committee  Certainly from CIBC's perspective, we do not require you to change your online banking password every 30 days. We understand that it is difficult for clients to remember their passwords. Even within our own site you occasionally need multiple passwords or personal verification qu

Information & Ethics committee  I'd be happy to address that. First of all, CIBC would not view the security and integrity of their clients' information as being a competitive advantage or anything that we would want to compete with anybody regarding it. We would view that as an expectation on the part of the

Information & Ethics committee  Good morning. I'm Philip Fisher, senior director of eChannels risk management, representing CIBC. I'm part of CIBC's retail banking fraud group. My particular specialty is in the area of online crime or cybercrime, but I'm able to speak on a variety of fraud issues. First, on be