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CTV News
2 hours ago
- CTV News
SAAQclic: Former CEO says his confidence in IT VP has been shaken
Commissioner Denis Gallant of the Commission of Inquiry into the Management of the Modernization of the Société de l'assurance automobile (SAAQ) IT Systems is awaiting the start of the public inquiry into the failures of the SAAQclic platform in Montreal on Thursday, April 24 2025. A public inquiry into the SAAQ's costly digital transformation has revealed that it could cost the province nearly half a billion dollars more than originally anticipated. (Christinne Muschi/The Canadian Press) The former president and CEO of Quebec's auto insurance board (SAAQ) says his confidence in his IT leader 'seriously eroded' after the failed launch of the SAAQclic platform, but he was not ready to fire him. On Friday, Denis Marsolais testified about the first weeks of the crisis that followed the disastrous rollout of the new interface in February 2023. He was the one who found himself in the spotlight 'defending his organization' in the media. He relied on the words of his vice-president of information technology (IT), Karl Malenfant. Marsolais gave the example of a radio interview with host Paul Arcand in the early days of the crisis. 'I told him, 'Rest assured, Mr. Arcand, I'm told that the problems (with) the software will be resolved within two to three months.'' 'Again, I'm not making this up. I'm not the expert. I was told that the problems would be resolved within three months,' Marsolais told the Gallant Commission. 'Who told you that?' asked Commissioner Denis Gallant. Malenfant, replied the former CEO. 'Mr. Malenfant, he's selling you the seventh wonder of the world, and you end up with a system that doesn't work,' said the commissioner. Gallant asked him if he still trust his VP of IT, even though there were endless queues in front of the branches and people were not signing up for the platform. 'Now it's starting to seriously fall apart,' Marsolais acknowledged. Yet in the weeks and days leading up to the launch of SAAQclic, he said he was confident about the project, despite some warnings. 'Everyone was not only confident, but agreed to roll it out and that we were ready for deployment. So I trusted the experts around the table,' he said. 'I wasn't told everything' Marsolais suggested that he ultimately felt betrayed by Malenfant. 'Throughout my career, I have always had associate deputy ministers and vice-presidents in my inner circle. I have always trusted these people. They have always been loyal to me. They have never betrayed my trust,' he said. 'Today, I have to tell you that I think there is an exception to the rule,' he added. Marsolais felt that Malenfant did not give him 'all the information at the right time.' 'I am increasingly certain that I was not told everything,' he said, adding that he 'should have been more vigilant.' The executive revealed that someone had suggested he dismiss his IT boss in March 2023. He felt that replacing Malenfant in the middle of a mess would have been 'even more dramatic.' 'I told him that Mr. Malenfant is theoretically retiring in December. (...) I said, 'Give me until June. In June, he will take early retirement and that's it,'' explained Marsolais. Instead, it was Marsolais who left first, when he 'left his role' in April. He is now president of the Office de la protection du consommateur (consumer protection agency). Summer break The conclusion of Marsolais' testimony on Friday marked the end of the eighth week of hearings by the Gallant Commission, which aims to shed light on the setbacks encountered during the SAAQ's digital transformation. Public hearings are suspended until Aug. 18 for a summer break. In the meantime, the commission team will continue its investigation. Tens of thousands of documents must be reviewed. To date, more than 300 exhibits have been filed and 45 witnesses have been heard during the public hearings. 'One thing is already clear: the overall budget for the project has grown to immeasurable proportions,' said the commission's chief prosecutor, Simon Tremblay. The SAAQ's failed digital transition is expected to cost taxpayers at least $1.1 billion, or $500 million more than anticipated, according to calculations by the Auditor General of Quebec. One of the next areas the commission is expected to examine is 'who knew what.' 'We got a taste of it this week. This is the beginning of that part,' said Tremblay. There are still several key players to be questioned, including former CEO Nathalie Tremblay and the current CEO, Éric Ducharme, as well as Malenfant, whose name has come up repeatedly since the testimony began. The latter submitted a request this week to obtain participant status, which would allow him to cross-examine witnesses. His request is currently under review. CAQ ministers François Bonnardel and Geneviève Guilbeault have also not been heard so far. The commission will have to hear them before the National Assembly resumes its work in mid-September. The Legault government has granted the Gallant commission a two-and-a-half-month extension to complete its mandate. The commissioner must submit his report by Dec. 15 at the latest, according to the new schedule. This report by The Canadian Press was first published in French June 20, 2025. Frédéric Lacroix-Couture, The Canadian Press
CBC
5 hours ago
- CBC
Billions of login credentials may have leaked. Here's how you can protect your accounts
A report that independent cybersecurity news outlet Cybernews published on Wednesday claimed 16 billion login credentials were exposed and compiled into datasets online, giving cybercriminals access to accounts on such online platforms as Google, Apple and Facebook. CBC News was unable to independently verify the report, but cybersecurity experts say the incident is yet another reminder for people to regularly change their passwords and not use the same one for multiple platforms. "About three or four times a year, take those passwords that are especially in the social platforms that you use, the places you like to go, and just change those passwords and keep them fresh," Enza Alexander, executive vice-president of ISA Cybersecurity in Toronto, said. "Don't reuse what you used before. Use [passwords] that have characters and numbers and that are very unique." Alexander acknowledged this can make them harder to remember, but cycling passwords on the different platforms you use makes it harder for cybercriminals to access your accounts and find indicators of your identity. Cybernews said that duplicate records are likely to be present in the datasets, meaning it's "impossible" to determine the exact number of people whose credentials might have been exposed in the leak. The leaked records don't appear to come from a centralized breach that targeted a specific company but rather a compilation of datasets containing login credentials that were gathered over time. Cybernews said in its report that various infostealers are likely behind it. Infostealers are a form of malicious software that breaches a victim's device or systems to take sensitive information. A Google spokesperson said in a statement to CBC News that the issue did not stem from a Google data breach. Bob Diachenko, a cybersecurity researcher and Cybernews contributor who was involved in reporting the leak, posted on social media platform X noting that there was no single source of the leak. "What this number reflects is the size of different infostealers logs exposed publicly since the beginning of this year alone," Diachenko said in the post, adding that the leak signifies the large scale of "infostealers infections" today. Many questions remain about these leaked credentials, including whose hands the login credentials are in now. But as data breaches become increasingly common in today's world, experts continue to stress the importance of maintaining key "cyber hygiene." How can you protect your credentials? Alexander said that "it's difficult to understand what is accurate and what is not" about the leak, but noted that it's important for people to change their passwords if they're worried they might be affected. She also recommended that people look at different security offerings that platforms may offer, such as logging in using a passkey rather than a password. Some online services, like Google and Apple, allow users to sign in using a passkey as an alternative to using a password. This lets users sign into their accounts with a facial recognition scan, their fingerprint or a pin. In its statement, Google encouraged users to use passwordless authentication methods such as passkeys, which the company said are more secure. It also suggested using tools like Google Password Manager, which will store passwords and notify users if any of their passwords have been involved in a data breach so they can take action.
Globe and Mail
6 hours ago
- Globe and Mail
2 No-Brainer Artificial Intelligence Stocks to Buy Right Now
No matter where you are on the artificial intelligence (AI) debate -- for or against -- there's no denying that it's transforming the way people work. Companies of all shapes and sizes are integrating into their daily workflows, and new industries are popping up because of it. The mass adoption of AI could result in a market size of more than $15 trillion by 2030, according to PwC research. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More » Fortunately, there are tons of AI companies out there that actually have a foothold in the market and aren't just flash-in-the-pan opportunities. Here are two well-established companies that are already benefiting from this trend and could be great AI stocks for years to come. 1. Taiwan Semiconductor Taiwan Semiconductor Manufacturing (NYSE: TSM) does exactly what its name describes -- it manufactures processors for companies. The world's leading chip designers, including Nvidia, rely on Taiwan Semiconductor (often referred to as TSMC) to make their processors because the company is so good at it. TSMC manufactures an estimated 90% of the world's artificial intelligence semiconductors, making it the clear leader in this market. This dominance led to TSMC's revenue rising 41% in the first quarter of 2025 to $25.5 billion and diluted earnings per share jumping 60% to $2.12 per American depository receipt (ADR). TSMC relies on its technological lead in semiconductor manufacturing to stay ahead of its competitors, and so far, it's still leading the pack. The company is focused on its 5-nanometer (nm) and 3nm chip production and management said recently that there continues to be "strong demand" for both. The company's CEO, C.C. Wei, said early this year he expects TSMC's artificial intelligence revenue to double this year compared to last year and recently reiterated that forecast. Taiwan Semiconductor stock has already gained 142% over the past three years, so what makes the stock a buy right now? Demand for semiconductors hasn't slowed down yet, and no one knows when or if it will. Companies are locked in an AI race right now, and a big part of that involves getting their hands on the most advanced AI chips. With TSMC's dominance in semiconducting manufacturing and it already holding a lead in advanced AI processors, the company is poised to benefit from chip demand as long as tech giants need the best processors available. And despite its share price gains, TSMC stock has a price to earnings ratio of just 25, which is below the P/E multiple of the broader S&P 500. 2. Microsoft Microsoft (NASDAQ: MSFT) has made itself an important player in artificial intelligence by making strategic investments in ChatGPT creator OpenAI over the past several years. The early move gave Microsoft access to one of the most advanced AI chatbots on the market, and it quickly implemented ChatGPT into everything from its Microsoft 365 suite of productivity tools to its GitHub Copilot coding assistant. That's helped Microsoft stay relevant in a rapidly shifting tech market and benefit from AI's growth. Part of Microsoft's AI strategy has been to offer more advanced services with its Azure cloud computing platform, which has helped result in a 35% jump in cloud services sales in the fiscal third quarter (which ended March 31). Microsoft is the second-largest public cloud computing provider with 21% market share, trailing only Amazon, which holds 30%. Microsoft has narrowed this gap over the past few years, and its investments in artificial intelligence infrastructure could make it an even stronger contender. The company will spend $80 billion on cloud infrastructure this fiscal year alone to stay ahead of the competition. Microsoft's stock is a bit more expensive than Taiwan Semiconductor's, with a P/E multiple of 36. But with Microsoft already off to a strong start in implementing advanced AI into its software and benefiting from AI cloud services, the company is setting itself up to remain a leading tech player for years to come. Should you invest $1,000 in Taiwan Semiconductor Manufacturing right now? Before you buy stock in Taiwan Semiconductor Manufacturing, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Taiwan Semiconductor Manufacturing wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $659,171!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $891,722!* Now, it's worth noting Stock Advisor 's total average return is995% — a market-crushing outperformance compared to172%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 9, 2025 John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Chris Neiger has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon, Microsoft, Nvidia, and Taiwan Semiconductor Manufacturing. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
