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The Internet has revolutionized how we do business. It increases business efficiency and allows us to connect with customers across time and space to offer more information and value.
Information, in fact, is a genuine business asset today with many organizations relying on customer data to create value-added products and services. At the same time, the Internet creates valid concerns about privacy and security. The value and security of information are two reasons why the federal government recently enacted legislation to help protect Canadians and businesses.
The Personal Information Protection and Electronic Documents Act is about balancing interests. On one hand, it respects an individual's right to privacy. On the other, it recognizes the need for organizations to responsibly collect, use and disclose personal information.
The law, as its name suggests, serves two objectives. The first is establishing rules governing the collection, use and disclosure of personal information by private sector organizations. The second objective is to acknowledge the validity and legality of electronic documents.
In the future, this law will significantly affect how many private businesses, public corporations, federal agencies, not-for-profit organizations and associations handle personal information. It will clearly establish a code of privacy practices that will provide Canadians from coast-to-coast with a mechanism to ensure personal information is handled respectfully.
The implementation of the federal privacy law is in three stages. The first phase, effective January 1, 2001, affects federally regulated private organizations (such as Canadian banks and airlines), as well as organizations that collect, use or disclose personal information for profit on an inter-provincial or international basis.
As of January 1, 2002, the law governs the collection, use and disclosure of personal health information. On January 1, 2004, almost all organizations in Canada collecting, using or disclosing personal information in a commercial activity will be subject to the law.
At RBC Financial Group we believe responsible information handling practices provide businesses with a competitive advantage. We also recognize reviewing, verifying and changing business practices can take time. This is why we have created this site.
To help you learn about this new law are links to more information, as well as a Privacy Diagnostic Tool - a self-assessment program to help businesses gauge their privacy readiness by comparing their information processes with international privacy principles.
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