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What do Canadians need to know about the Equifax Data Breach?

Rachel Surman

Sep 09, 2017 2 min read

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What do Canadians need to know about the Equifax Data Breach?

What happened?

Equifax, the credit bureau Borrowell uses to provide free credit scores, announced on Thursday that it was the subject of a large-scale data breach. This breach has reportedly affected 143 million Americans, as well as an unknown number of people living in Canada and the United Kingdom.

The hackers were able to obtain sensitive information, but Equifax Canada has not yet provided details about how many Canadians have been affected or the data that was stolen. Equifax will be working comprehensively with UK and Canadian regulators to assess the impact.

Borrowell is in no way directly affected by the breach and its systems are secure.  

Have Canadians been affected?

Yes, however, it is unknown how many Canadians have been affected or the data that was stolen.

Has Borrowell been compromised?

No, Borrowell has not been compromised. Borrowell is in no way directly affected by the breach. Equifax has set up this website to provide more information to help their customers determine if their information has been potentially impacted.

This incident is a reminder of the importance of data security, which is something taken extremely seriously at Borrowell. Borrowell uses bank-level encryption to protect client data and this data will never be sold to a third party without the customer’s explicit consent. Read more about Borrowell’s privacy and security policy here.

Are Borrowell users affected?

It is possible that customers may have been affected by the breach, however, this is unrelated to their involvement with Borrowell. Borrowell customers’ personal information is secure and the situation is being monitored very closely.

Where can I learn more?

You can find more information on the Equifax incident here.

Rachel Surman
Rachel Surman
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Rachel Surman is a digital writer at Questrade and a former content marketing specialist at Borrowell. Rachel is passionate about helping educate others about credit. She's also a big fan of budgeting and saving - mainly so she can visit all the places on her bucket list.

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