Fergie's Tech Blog

Canadian Parliament May Force Banks to Reveal Electronic Security Lapses

Personally, I'd like to see this type of enforcement globally, or else the confidence in banking and online commerce will force folks to start putting their cash in their mattresses (again).

Carly Weeks writes for CanWest News Service (via Canada.com):

A House of Commons committee is expected to propose new rules that would force banks and other institutions to publicly disclose when they lose customers’ personal information.

But the country’s major banks are fighting the idea, saying it would have a “significant negative impact” on consumers.

The issue is about to reach a boiling point in Parliament, where the House ethics committee is in the process of reviewing the Personal Information Protection and Electronic Documents Act, designed to protect personal information that is used by businesses, the government, as well as health information.

posted by Fergie @ 2/08/2007 04:29:00 PM