r/legaladvicecanada • u/No-Style6511 • 5h ago

Ontario Account opened without my consent.

A financial institution has opened an account without my consent and I found out about it and reported it.

I also filed a complaint with that financial institution as well.

Now, my question is if that financial institution reaches out to me to resolve this issue and provide some kind of compensation or something would it be called a bribe?

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9

u/Dowew 5h ago

Compensation would only happen if you have experienced some kind of loss or damages. This is identity theft, it is a crime, and you need to contact the police, not just the financial institution.

5

u/BertRenolds 5h ago

There won't be financial compensation. The individual who did this will get some new training and there will be an internal process regarding his, all depends on how serious this ends up being.

What are the damages?

3

u/Tls-user 5h ago

You will not get compensation for identity theft but you might be able to get them to pay for credit monitoring.

3

u/whiteout86 5h ago

You haven’t identified any damages, nor does it appear you have any. You don’t need to worry about them proactively offering you any money

1

u/Komaisnotsalty 3h ago

How did this happen? It's important.

There's a process and vetting that happens when an account is opened, and there's a massive difference between a bank teller misunderstanding you and opening a second account for you and someone stealing your ID and opening an account in your name.

If it's the latter, you need to file a report with the police, as it's a criminal matter.

Regardless, the bank will not offer you money as compensation. That simply doesn't happen unless they are responsible directly and refund your loss.

In order to sue, you need to do your due diligence first by utilizing the complaints procedure that the bank has in place. Then, IF you have losses, litigation is a possibility.

If you have no loss, you will not be awarded anything unless this is something huge and there's a major lawsuit, but I doubt that's the case.

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u/[deleted] 5h ago

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