Canada to probe mortgage brokerages

The federal privacy commissioner is auditing a number of mortgage brokerages because of concerns about the security of borrowers’ personal financial information, The Globe and Mail has learned.

The audit, which industry sources say began this month, is looking into the potential misuse of consumers’ information to carry out fraud such as identity theft….

“The reason that we are doing this is we have been concerned that personal financial information of Canadians might have been falling into the wrong hands,” said Anne-Marie Hayden, a spokeswoman for the privacy commissioner’s office.

“There have been numerous breaches reported to our office over the course of the last year or so.”

Ms. Hayden stressed that the audit is still in the preliminary stages, and it is too early to say what practices within the industry it might uncover.

Read more in The Globe and Mail

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