Increased Data Protection Needed in Mortgage Brokering
DATA PROTECTIONJune 11, 2010
Though mortgage brokers have made strides in protecting personal data, an Office of the Privacy Commissioner (OPC) audit has revealed that more should be done, reports The Globe and Mail. The OPC conducted the audit after 14 data breaches involving impersonated mortgage brokers downloading credit reports for false applicants. Since then, brokerages have improved data protection, but "we have ongoing concerns about the controls and safeguards in the way in which credit reports are obtained," said Assistant Privacy Commissioner Elizabeth Denham. The OPC details the audit findings in its annual report to parliament, tabled Tuesday.