Financial institutions are now required to notify the Federal Trade Commission about any security breach that involves the information of 500 customers or more. The breach must be reported no later than 30 days after it is discovered.

Amendments have recently been proposed to two of the three statutes to be enacted under Canada’s Bill C-27: The Digital Charter Implementation Act. The statutes that may be amended are the Consumer Privacy Protection Act and the Artificial Intelligence and Data Act. The proposed amendments would beef up the protections in both statutes.