The loss of the financial information of some 52,000 brokerage firm clients last week could have been prevented if the Investment Industry Regulatory Organization (IIROC) was not heavily reliant on policies alone and had used security technologies as well, according to the head of Ontario’s Information and Privacy Commissioner.
“This sort of thing sends me through the roof because it was completely preventable,” said Commissioner Ann Cavoukian. “What is so ironic is that it was the regulatory body that lost the financial information of 52,000 people. Fnancial information is probably the most sensitive information next to medical data.”
Last week, the IIROC reported that one of its employees lost a “portable device” containing the personal information of 52,000 brokerage firm customers. The IIROC is a national self-governing organization that oversees all investment dealers and trading activity on debt and equity market places in Canada. The IIROC has since said that it has beefed up its security procedures and informed the affected brokerages and clients.
@itworldca – IT World Canada Staff – April 15th, 2013.
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