According to a recent Interac survey, nearly eight in 10 Canadians believe their personal information is too exposed and poorly controlled, leaving them feeling like they have lost control of their information.
As a result, only 40% of Canadians surveyed believe they can still protect their personal information online, according to data released Tuesday.
The rise of connected technologies such as smart home devices is one of the main issues that concerns consumers about how their data is used.
About six in 10 Canadians also find that they are asked for their personal information far more often than they think is necessary when accessing online services or shopping.
“Consumers are increasingly concerned about the privacy and security of their personal information and are dissatisfied with the status quo,” said Colette Stewart, senior legal counsel and corporate chief privacy officer at Interac.
No more consent
To take back control, 87% of respondents believe they should have the right to ask organizations to delete their personal data at any time.
There is also a need to simplify the consent process – with clear language and an explanation of how data is shared.
Two-thirds of Canadians surveyed believe the introduction of the Open Banking Act is a step in the right direction, which would allow banks to securely share personal information with financial applications.
“As Canada seeks to give consumers more control over their financial information through consumer-focused banking services, the adoption and usefulness of these services depend on respect for privacy, protection of data and consumer trust,” added Kashmera Self, Vice President for Strategy and innovation, added.
The survey was conducted by Hill & Knowlton with the Léger Opinion online panel among 1,500 Canadians between January 2 and 4, 2024.