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Survey Finds Canadians Have Lost Confidence In The Privacy Of Their Personal Data

Photo by Glenn Carstens-Peters on Unsplash

Canadians feel they have lost control of their personal data. Findings from a recent survey by Interac Corp. (Interac), published during Data Privacy Week, reveal nearly eight in 10 Canadians (77 per cent) feel their personal data is more exposed than ever before. Amid concerns that companies have access to too much of their data (72 per cent), only 40 per cent of Canadians feel confident in their ability to keep their online personal information safe. Eight in 10 (80 per cent) want greater control over their online information and how it is shared.

“Consumers are increasingly concerned about the privacy and security of their personal data and are dissatisfied with the status quo,” said Colette Stewart, Managing Counsel and Enterprise Privacy Lead at Interac. “Our survey results underscore the opportunity to build Canadians’ confidence by simplifying the consent process for when, where, and how frequently they share their data – and subsequently the role organizations play in meeting these needs and expectations.”

The majority of Canadians (87 per cent) believe they should have the ability to tell organizations to delete their personal information whenever they choose. Canadians are also looking for consent to be simple. Six in ten (59 per cent) say they can’t clearly consent to how their personal information is shared because they don’t understand the terms and conditions they are agreeing to, and 65 per cent say it’s because the language describing data usage is often vague.

As the Federal government prepares to introduce legislation on open banking, also known as consumer-driven banking, Canadians are optimistic about its prospects and are interested in what measures will be taken to ensure their data is protected. Two thirds of Canadians (65 per cent) welcome the potential open banking holds in giving them more control of their financial data. Other benefits of open banking that appeal to Canadians include the ability to securely access and share their financial data with financial service providers (54 per cent) and protection from risky practices that are being used today such as screen scraping (60 per cent). Additionally, nearly half (47 per cent) say having the ability to revoke consent – to stop their information from being used at any moment – would enhance their confidence while using open banking.

“As Canada moves to provide consumers with greater control over financial data via consumer-driven banking, its adoption and utility hinges on strong privacy, data protection and consumer trust,” added Kashmera Self, Vice President of Strategy and Innovation at Interac. “At Interac, we have long focused on designing products and services that operate with individual choice at the centre and have seen first-hand the value of a privacy-first mindset in earning the trust of Canadians.”

Other key findings from the Interac survey include:

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