New law puts taxpayer info at risk, say privacy experts

A new federal law, passed last week as Bill C-51, allows CRA to share taxpayer information with 13 more government agencies than previously, reports MoneySense.ca. Under the old rules, CRA could only share this information with the RCMP, CSIS and FINTRAC, and under limited circumstances.

Read: 900 SINs stolen from CRA

The move has raised alarm bells for privacy experts. “The more people that have access to taxpayer information under Bill C-51, the higher the risk of leaks, hacks and other foul play,” Avner Levin, the director of Ryerson University’s Privacy Institute told MoneySense.ca.

Read more here.

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The staff of Advisor.ca have been covering news for financial advisors since 1998.