Canadian Citizens Express Concern Over Data Exposure and Privacy Threats
A recent survey conducted by Interac Corp. has revealed that a majority of Canadians are worried about the exposure of their personal data and the threats to their privacy. The survey, published during Data Privacy Week, found that 77% of Canadians feel that their personal data is more exposed than ever before. Furthermore, 72% of respondents expressed concerns about companies having access to too much of their data. The survey also highlighted that only 40% of Canadians feel confident in their ability to keep their online personal information safe.
Colette Stewart, Managing Counsel and Enterprise Privacy Lead at Interac, stated that consumers are increasingly concerned about the privacy and security of their personal data and are dissatisfied with the current status quo. She emphasized the need to simplify the consent process for sharing data and the role of organizations in meeting the needs and expectations of consumers.
The survey also revealed that the majority of Canadians (87%) believe they should have the ability to instruct organizations to delete their personal information whenever they choose. Six in ten Canadians (59%) claimed that they struggle to clearly consent to how their personal information is shared due to a lack of understanding of the terms and conditions they are agreeing to. Additionally, 65% noted that the language describing data usage is often vague, further complicating the consent process.
As the Federal government prepares to introduce legislation on open banking, Canadians are optimistic about its potential benefits and are concerned about the protection of their data. Two-thirds of Canadians (65%) welcome open banking as a means to gain more control over their financial data. Benefits of open banking that appeal to Canadians include secure access and sharing of financial data with financial service providers (54%), as well as protection from risky practices like screen scraping (60%). Nearly half of the respondents (47%) expressed that the ability to revoke consent at any moment would enhance their confidence in using open banking.
The survey also shed light on other key findings. Nearly half of Canadians (48%) expressed concerns about how connected technologies use their personal information, although they believe that the benefits outweigh the risks. Trust among consumers in how their data is handled by the companies they share it with is rapidly declining, with 66% of Canadians believing that companies share their data without their consent. Moreover, the available solutions in the market are not perceived to adequately protect privacy, according to 71% of Canadians.
Furthermore, 59% of Canadians stated they are frequently asked to share their personal information when accessing online services or making purchases, which makes them uncomfortable. This sense of losing control over their personal information was echoed by 51% of respondents. Canadians expect certain consumer protection measures to be in place, such as the ability to provide consent each time their personal data is used (75%).
In conclusion, the survey conducted by Interac Corp. highlights the concerns of Canadians regarding the exposure of their personal data and the threats to their privacy. It underscores the need for simplified consent processes and stronger protection measures to maintain consumer trust. As the Federal government moves towards open banking, Canadians are optimistic about the potential benefits but emphasize the importance of data protection.
