Global financial institutions have an immense challenge to be able to ensure that they are operating in compliance with a multitude of jurisdictional specific privacy regulations as it pertains to data access and data usage by their internal employees.
Understanding the regulations pertaining to data privacy and usage and how they intersect with AML programs is something that our Canadian RegTech Association member firm Arctic Intelligence has invested heavily in.
We extend our Congratulations to Darren Cade & Rose Davitt & colleagues on being recognized by A-Team Group as ‘Most Innovative Data Privacy Project by Design
Canadian privacy law 2.0: Artificial intelligence (AI) and Bill C-11, the Consumer Privacy Protection Act
and In a recent announcement, the Canadian federal Privacy Commissioner of Canada (“OPC”) released a report containing recommendations on how AI should be treated under Canadian privacy law, and what protections need to be in place to ensure AI applications reach their potential without negatively impacting privacy rights of Canadians. The report entitled “A Regulatory Framework for AI: Recommendations for PIPEDA Reform” is the result of the consultations with stakeholders earlier, as discussed in our previous blog article, earlier in the year. The Commissioner received 86 submissions and held two in-person consultations.
Almost concurrently, on November 16, 2020, the federal government announced a tabling of legislation that will overhaul Canadian privacy law, namely, Bill C-11, “An Act to enact the Consumer Privacy Protection Act and the Personal Information and Data Protection Tribunal Act and to make consequential and related amendments to other Acts.” We reported on Bill C-11 and the proposed replacement of Canada’s Personal Information Protection and Electronic Documents Act (“PIPEDA”), being the Consumer Privacy Protection Act, in our first article in a series on the potential impact of Bill C-11. The Commissioner released a statement shortly after Bill C-11 was announced, commending many of the proposed changes, such as increased enforcement and order-making powers, but Commissioner Therrien also voiced significant concerns. In particular, the OPC is concerned with how the new law does not place privacy rights in the context of individual and human rights and fails to entrench it as such in the proposed Bill C-11.
This article was written by Myron Mallia-Dare and David Krebs from Miller Thompson LLP and published in Lexology on December 7, 2020. Myron is an advisor to the CRTA.
In the final blog of our Cyber Series, in partnership with Cube Global Vignesh Krishnamoorthy, explores the third-party risks presented by the ‘new normal’.
Work from anywhere. Cyber everywhere.
The COVID-19 pandemic forced business leaders worldwide to respond with unprecedented speed and efficiency to the new ways of working, innovating, responding, collaborating, transacting… and surviving. Now, as organizations begin to plan for a post-pandemic world, they must ask themselves, “how can we make new ways of work productive, sustainable, secure, and safe?”
As COVID-19 spread from person-to-person, country to country, and beyond, Cyber delivered the integrity and availability of the networks needed to “work from anywhere” and the confidentiality to transact and transform with confidence across geographies. For the world to continue to thrive in this new remote and virtual environment, even as COVID-19 wanes and surges in various regions, organizations will need to:
Within every industry, organizations face challenges to both support their remote workforce and rapidly adopt online services and customer support channels. To address these challenges, organizations may now rely more on suppliers that provide remote access technologies or support essential services. However, the supply chain also introduces increased risk to these organizations as they serve as an extension of their operations.
Organizations need to understand the full landscape of risk third parties pose including, but not limited to, reputation, business continuity, financial viability, and privacy. From a Cyber risk specific lens, suppliers that lack the appropriate security controls for remote work expose their clients to Cyber-attacks that could compromise data or create system downtime, resulting in operational disruption and financial loss.
To reduce risk exposure from the supply chain, organizations must enhance existing risk frameworks to assess suppliers from a remote risk perspective. Clients should focus on the following three principles to ensure risks in their supply chain are effectively mitigated.
As we are experiencing changes in our societal values, how businesses operate, and what customers demand, many leaders are thinking about the longer-term impacts of the pandemic and how their organization can achieve results in the future. In this new reality, organizations will serve customers differently, engage their workforce through evolving delivery/employment models, and face an increasingly complex threat landscape – and businesses have the opportunity to use cyber as a strategic differentiator to create a resilient enterprise of the future.
Ask the experts On 25th August, the CRTA and CUBE will be hosting an audience-led roundtable discussing the new normal for cyber.
As an International Web Scientist, I can tell you that by the end of 2019 over 50% of the world was online, over 4 billion people. The global online community has been increasing approximately 10% per year since 2005. The world wide web is a fabric of permanence which technology has been leveraging to connect the world, the so-called globalisation of our society. This technical revolution has benefited every connected person based on their use of the technology. However, it has its dark side.
Based on an IBM survey, 77% of all organisations are not prepared for a Cyber Crisis. Insider threat is still a real risk, and we have come to associate this risk with exposure of personal data.
Based on 2019 data exposure report, 69% of companies admit that employees and contractors were the source of the leaks, obviously these were not predominantly malicious.
As part of the ITU survey for 2019, in 40 of the 84 of the countries less than 50% of the population has basic computer skills. It may surprise you to know that basic digital skills were considered by ITU to be whether staff could copy files or use email.
On May 20th, 2020, the CRTA hosted the third session of our Spring Webinar Series entitled: Instilling Trust Through Sound Data Governances Practices
With data at the nexus of digital transformation efforts that are taking place across a wide spectrum of public and private sector organizations, a scalable and sustainable approach to data governance is crucial for success. The diverse composition of backgrounds and experiences from our subject matter experts made for a thought-provoking and highly informative conversation from which I’ll highlight two key themes that emerged:
Audience Perspective: CRTA’s Session – Responsible AI – A Movement to Human-centred Product Design
Moderated by: Doron Telem, National Leader, Risk Consulting, KPMG
Are we ready for the power of AI? Is it still a tool that’s too complex, too perplexing to give agency to and implement in professional environments? We know it’s already running in the background of our daily lives, collecting and analyzing, predicting and tailoring, but how do we decipher the mystery and realize its potential?
We’re now producing a massive amount of data, making it increasingly difficult and unwise to analyze and model using traditional approaches. We are at a decision point. The advent of artificial intelligence and machine learning presents us with tools with limitless potential to solve increasingly complex problems. It also presents us with unique risks. Understanding these risks is a step towards better utilization. Recently, 3 drivers in the implementation of AI were discussed at a session presented by the Canadian Regulatory Technology Association.