Protecting the information privacy of their valued customers is a top priority for banks in Canada. Banks believed this proposed data acquisition project was still in the exploratory stages and were not aware that Statistics Canada was moving to compel disclosure of this information. No customer transaction data or other personal information has been transferred to Statistics Canada under this request. The CBA is working with members to understand the nature of this request and next steps.
The CBA and its members are encouraged that the Office of the Privacy Commissioner has launched an investigation into Statistics Canada’s data request. The banking sector continues to emphasize the central importance of protecting the privacy and security of customer financial data and personal information.