Do you know who has access to your cyber data? Most Canadians don't
According to a recent report, many Canadians don’t know who has access to their data.
The report, conducted by IBM Canada, found that 83 per cent of Canadians believe businesses should be doing more to protect consumers against cybersecurity threats that could result in their information being stolen.
However, 65 per cent of Canadians felt it was unrealistic to expect their information to be secure.
Additionally, 71 per cent said they believe it is impossible to live and work using modern technology without sacrificing the privacy of their personal data.
Further, 73 per cent of Canadians said they don’t know who has access to their personal information.
The report also found that Canadians had a lack of trust irrespective of the industry—respondants were likely to trust ride-sharing companies with their data as much as they trust banks.
“We are moving into what is known as a ‘trust economy’,” Ayman Antoun, president of IBM Canada, said in a news release.
“Canadians are becoming more aware of which businesses are placing a higher priority on the privacy and security of personal information. Responsible stewardship of data must be at the core of technology innovation and we at IBM are in support of industry, policy-makers and other stakeholders working together to increase trust in the digital economy,” he continued.
The report also found that only 19 per cent of Canadians trust companies to keep their personal information secure, and refrain from sharing it without permission—which is having an impact on how consumers choose to do their shopping.
Fifty-two per cent of Canadians are so concerned about their information being compromised they refuse to shop online whatsoever.
“Cybercriminals are always looking for ways to take advantage of online consumers and so it is critical for businesses to have security in place that can stay ahead of them to eliminate vulnerabilities or risks,” Ray Boisvert, an associate partner with IBM Canada Security Services, said in the same release.
“But Canadians also need to stay vigilant and do what they can to keep their data safe. Doing business with a company they trust is a good start,” he continued.
The report also found a generational gap between how consumers view their data.
Fifty-seven per cent of Gen Zers and early Millenials (18 to 29 years old) said they were fine with companies sharing their information as long as they were notified in advance, while only 44 per cent of Gen Xers (30 to 49 years old) and Baby Boomers (50+ years old) felt the same way.
Additionally, 55 per cent of people ages 18 to 29 approved of businesses using their information to develop and improve technologies.
Baby Boomers were the mot suspicious when it came to their personal data, as only 13 per cent were amenable to their information being sold. They’re also 10 per cent more likely to read the fine print when it comes to their information, and 10 per cent less likely to buy from a business again if they share their information without permission.
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