Ottawa Plans To Fine Companies That Fail To Report Data Breaches
The federal government in Canada has proposed fines for those Canadian companies that try to hide data breaches.
Under new regulations, it would be mandatory for companies to report to authorities and notify their individuals if their data has been breached. The mandatory reporting will help provide protection against further companies that could lead to fraud, identity theft, humiliation, loss of employment or other forms of harm. Risk Based Security Inc. revealed that Canada had the third-largest number of data breaches in the first six months of the year.
Alberta currently is the only province required by law to report data breaches.