By Stan Clarke, March 10, 2026
Dear Friend and Clients,
The Canadian securities regulators certainly handed us a sour lemon with the CIRO data hack revelation that we have written about twice recently. But rather than continuing with criticism and disdain, we are using this as an opportunity for learning, growth, and ways to improve. We are taking CIRO’s sour lemon and making Mirador Lemonade!
Effective last week, we have acquired cybersecurity insurance. The policy has comprehensive coverage for cyber related crimes including network, information and security liability, privacy breach, corporate identity theft, cyber extortion, ransomware, business interruption, and operational continuity. Coverage for network and privacy breaches extends to losses incurred by our clients as a result of a Mirador cyber event.
The insurance company also provides a proactive cyber program whereby they will help us to assess our vulnerabilities.
Additionally, we have done a review of our policies and procedures to determine our exposure to cyber risks, and we are implementing the following change immediately:
All requests for cash withdrawals beyond your automatic income payments must be made via a phone call to Joyce (403-978-6798). Joyce will ask you about the use for the additional funds. Joyce will call you back to ensure that her conversation was not with a cyber robot.
When the transfer shows as completed in our RBC IS system, Joyce will contact you and ask you to verify receipt of the funds to your bank account. If you do not verify receipt of the funds, we will call you again and if we do not connect with you in a short period of time, we will investigate further to ensure the money transfer has not been fraudulent.
As per our last correspondences, we will forever remain in “high vigilance mode”, and if we become aware of any additional pertinent information, we will be sure to send out more updates. If you have not already done so, please be sure to access the resources we recently sent you to improve your safety from cyber threats. Please share these resources with friends and family.
Artificial Intelligence is JUST THAT,,,,,,, artificial, and perfect for crime. As always, please call us if you have any questions, comments or concerns.
Sincerely,
Stan
403-608-4664
Joyce
403-608-4664