Description: Statistics Canada says that our banking information is “carefully protected and never shared publicly.” But with the headlines full of data breach stories, news that Statistics Canada has been asking the banks for our banking information – without asking us first – was grabbing attention this past week. Opposition politicians are piling on the Liberal government on this story and the privacy commissioner has started an investigation into the matter.
Date: October 31, 2018
1) Are you concerned that your banking information may have been shared with Statistics Canada without your approval?
2) Do you feel confident in the assurance over data secrecy provided by Statistics Canada?
3) The article has a picture of a citizen about to make a purchase via a bank card. What type of control activities would you expect to see over such a transaction? See page 360 of Wiley’s Financial Accounting: Tools for Business Decision-Making.