Hailey Leo, a resident of Langley, B.C., recently experienced a nightmare scenario that left her in disbelief and questioning her bank’s security protocols. In February 2025, Leo discovered that someone had somehow gained access to her personal information and opened a mortgage in her name in a completely different province — without her knowledge or consent.
“I’m mind-boggled that you can open up a mortgage in a completely different province and not even be present,” Leo shared with Consumer Matters. She had no idea that this would be the beginning of an ongoing nightmare that would shake her confidence in the banking system.
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The Start of the Nightmare: A Surprising Discovery
It all started on February 14, 2025, when Leo logged into her CIBC online banking account and noticed something was off. Her personal details had been changed.
“Not my name, but my address, the phone numbers — there were three different phone numbers added. The address was changed to Fort Saskatchewan, Alberta,” Leo explained. Even more concerning, she hadn’t received any notification about these changes.
Leo immediately contacted CIBC, who directed her to their fraud department, where her account was frozen temporarily while the issue was addressed. After waiting for several hours, Leo was informed that a new account had been opened under her name, and she was reassured that everything was now fixed. The bank claimed that the issue had been resolved, and Leo should have no further problems.
The Shock of a Lifetime: A Mortgage Opened in Her Name
But just 11 days later, the situation took a horrifying turn. Leo attempted to log in to her online banking again to check her balance, only to find that she was locked out of her account once more.
“I tried to log into my online banking to check my balance, and I can’t log in. Again, no notifications, no calls, no emails, no nothing,” she said.
When she finally reached out to CIBC, they informed her that someone had taken out a mortgage under her name in Fort Saskatchewan, Alberta, along with a personal line of credit. Leo was stunned to learn that her name was associated with a $260,000 mortgage that she never applied for.
“They (CIBC) end up telling me that all of the information has changed from the day I came in originally on the 14th, back to the exact same person, the exact same address, except this time they took out a $260,000 mortgage under my name,” Leo revealed. “I didn’t apply for a mortgage. How did this happen?”
CIBC’s Response: A Questionable Explanation
When asked for an explanation, CIBC issued a statement to Consumer Matters claiming that no fraud or identity theft had occurred. Instead, they attributed the issue to a “processing error” that affected a single account.
“We looked into this matter and can confirm no fraud or identity theft occurred. This was a processing issue limited to a single account which we are working to resolve,” CIBC stated.
However, when Consumer Matters contacted the phone number associated with Leo’s account, they discovered that the individual who answered also went by the name “Hailey Leo” and claimed to live in Fort Saskatchewan. This person had been dealing with issues related to a mortgage under the same name.
The confusion surrounding the situation only deepened, leaving Leo frustrated and searching for answers. “I wish they could give me an explanation for just shutting down the account. That’s all they explained it as. They told me that it was fraud,” she said.
Growing Concerns About Bank Security
Cybercrime consultant Claudiu Popa weighed in on the issue, expressing concern over the bank’s handling of the situation. “It’s just a statement made off the cuff and the bank does not realize such a statement only creates more questions. It answers no questions at all, and it will serve to worry and raise concerns amongst other customers at the very least if not other banking customers across Canada,” Popa remarked.
Popa also emphasized that threats to personal banking information are becoming increasingly sophisticated. “We are seeing situations even where multi-factor authentication is being compromised these days. It’s up to the banks to educate the public, not just to say you’re responsible for protecting your password and your account.”
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Expert Advice for Victims of Banking Fraud
Popa advised anyone who finds themselves in a situation like Leo’s to act quickly. Waiting for an investigation from the bank could take weeks or even months. He suggested that victims contact the Ombudsman For Banking Services and Investments, the Office of the Privacy Commissioner of Canada, and the Financial Consumer Agency of Canada. Additionally, obtaining a statement from the bank to clear one’s name is crucial to ensuring their credit rating remains intact.
A Lost Trust: Leo Moves Her Funds Elsewhere
As for Leo, she has since lost trust in CIBC’s ability to protect her financial information. Despite being told that an investigation was underway, she decided to take matters into her own hands and moved her funds to a competitor bank. “I’ve lost trust in CIBC. I’ve taken my business elsewhere,” Leo said.
This incident has raised significant concerns about the safety of personal banking information, and many Canadians are left wondering how a mistake like this could occur in the first place. As Leo’s case highlights, even small errors or lapses in security can lead to devastating consequences for unsuspecting customers.
This situation serves as a stark reminder for both consumers and banks alike to remain vigilant about online banking security and ensure that personal information is fully protected at all times.
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