Canadians less likely to trust sharing personal data

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Canadians do not trust sharing their personal data. We are among the least trusting in the world.

 In my opinion, that is an excellent characteristic to have. Too many people are not diligent enough in protecting their personal data, which can often result in crimes committed against them. Call it “modern-day theft”.

 KPMG is a Canadian accounting firm. According to their December 2018 report: Me, my Canadian life, my wallet, Canadians are looking for a balance between staying current with technology and maintaining their privacy.

 Almost two out of three Canadians do not trust any organization to see or hold their personal data, and one in four would rather lose their wallet than their phone.

 Much of everyday life is conducted through technology. In light of that, it isn’t surprising that if customers share secure information it’s with companies they trust. The most trusted sectors are healthcare providers (63 per cent) and banks (61 per cent). 

 The least trusted sectors include Telecom and media firms, with trust levels of 31 and 33 per cent respectively.

 The KPMG report states that Canadians are also generally more comfortable sharing their information with firms that will benefit them, and through experiences rather than physical products.

 Younger Canadians are higher users of technology and are more concerned with privacy issues than most.

 Many people understand that companies collect information anytime they can in order to profit from the data. The report shows that on the whole, Canadians are cynical about companies’ motives for asking for their personal information.

 There is a privacy concern about important financial data. There is also a concern about companies learning our preferences on what we purchase, how often we shop, or how we spend our leisure time, including what we watch on television.

There are several things we can learn about privacy.

 Determine what personal information is private and should be kept private. Be careful what firms you share your private information with and make sure it is to your advantage to do so.