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Bank of Nova Scotia
Symbol C : BNS
Shares Issued 1,227,027,624
Close 2018-12-11 C$ 71.48
Recent Sedar Documents

Globe says CIBC, rivals hear call for anonymizing data

2018-12-12 08:17 ET - In the News

See In the News (C-CM) Canadian Imperial Bank of Commerce

The Globe and Mail reports in its Wednesday, Dec. 12, edition that Senators who have examined the suspended plan by Statistics Canada to obtain personal records and the banking details of Canadians say banks could be expected to launch lawsuits to protect the information of their customers if the project is restarted. The Globe's Bill Curry writes that the Senators said in a report released on Tuesday that if Statscan resumes its plan to collect the banking and credit information, Ottawa should tell the banks to remove any personal identifiers before the data are handed over. "The committee has serious concerns with respect to Statistics Canada's proposed pilot project, not only because of the magnitude and the personal nature of the data being demanded, but also with respect to the lack of transparency throughout the process," the report said. Statscan's plan to obtain the banking records, and the fact that the agency has been collecting personal financial data from a credit bureau for more than a year, came to light through media reports in October. The ensuing public outcry prompted the agency to suspend the project, at least until federal Privacy Commissioner Daniel Therrien has completed a review.

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