Evidence of meeting #21 for Finance in the 41st Parliament, 2nd Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was card.

A recording is available from Parliament.

On the agenda

MPs speaking

Also speaking

Darren Hannah  Acting Vice-President, Policy and Operations, Canadian Bankers Association
Lucie M.A. Tedesco  Commissioner, Executive Services, Financial Consumer Agency of Canada
David Wilkes  Senior Vice-President, Grocery Division and Government Relations, Retail Council of Canada
Corinne Pohlmann  Senior Vice-President, National Affairs, Canadian Federation of Independent Business
Hugh Cumming  Executive Vice-President, Technology and Operations, SecureKey Technologies Inc.

5 p.m.

Liberal

Mauril Bélanger Liberal Ottawa—Vanier, ON

Has our financial consumer protection agency been into that as well?

5 p.m.

Commissioner, Executive Services, Financial Consumer Agency of Canada

Lucie M.A. Tedesco

That is one of the risks we raised in our paper. The risks are fraud, misuse, identity theft, and misuse of assets. It's something that's really not within our purview, but we'll be following it.

5 p.m.

Liberal

Mauril Bélanger Liberal Ottawa—Vanier, ON

In whose purview is it?

5 p.m.

Commissioner, Executive Services, Financial Consumer Agency of Canada

Lucie M.A. Tedesco

That's a good question.

5 p.m.

Liberal

Mauril Bélanger Liberal Ottawa—Vanier, ON

Somebody has to be thinking about that for our citizens.

5 p.m.

Acting Vice-President, Policy and Operations, Canadian Bankers Association

Darren Hannah

If I may suggest, you might want to talk to the institute for advanced computing near the University of Waterloo. They are the leaders in this technology. They could probably give you a sense.

5 p.m.

Liberal

Mauril Bélanger Liberal Ottawa—Vanier, ON

I know they are, but they're not a government institute. Whose purview is it within under the government?

5 p.m.

Commissioner, Executive Services, Financial Consumer Agency of Canada

Lucie M.A. Tedesco

I don't know.

5 p.m.

Liberal

Mauril Bélanger Liberal Ottawa—Vanier, ON

Mr. Chairman, do you know?

5 p.m.

Conservative

The Chair Conservative James Rajotte

Usually I just moderate the discussion. I'm only supposed to answer procedural questions.

5 p.m.

Liberal

Mauril Bélanger Liberal Ottawa—Vanier, ON

I understand that, Mr. Chairman. That wasn't fair. Perhaps it's something the committee may want to consider.

5 p.m.

Conservative

The Chair Conservative James Rajotte

I think I know the answer to that, but I'll endeavour to get that for everyone.

5 p.m.

A voice

Google it.

5 p.m.

Conservative

Andrew Saxton Conservative North Vancouver, BC

Just google it.

5 p.m.

Liberal

Mauril Bélanger Liberal Ottawa—Vanier, ON

No. I yahoo; I don't google.

5 p.m.

Conservative

The Chair Conservative James Rajotte

Thank you.

I have Mr. Keddy for the final round, please.

5 p.m.

Conservative

Gerald Keddy Conservative South Shore—St. Margaret's, NS

Mr. Chairman, you actually asked the question I was going to ask, but my colleague Mr. Saxton has a different question.

5 p.m.

Conservative

The Chair Conservative James Rajotte

Okay, Mr. Saxton.

5 p.m.

Conservative

Andrew Saxton Conservative North Vancouver, BC

Thanks, Chair.

It's actually along similar lines to Mr. Bélanger's questions for Mr. Cumming regarding security.

Your system is based on a cloud network, or whatever you call it. There seems to be a lot of apprehension among people still today about where that information goes, where that information is stored, whether or not it could be hacked. We've seen a lot of hacking activity coming from Asia, for example.

What can you tell people to give them more confidence that a cloud-based system is safe and secure?

5 p.m.

Executive Vice-President, Technology and Operations, SecureKey Technologies Inc.

Hugh Cumming

Part of it is that the world has sort of shifted from closed networks where security was very tight to these open networks that are highly interconnected, and that has created a lot of complexity. From a user perspective, I think keeping your organization and organizations that you've established trust with safe is first and foremost the best way to protect that data. People need to be conscious of how they use their data across the Internet. When you send your data to Joe's Flowers, it's not the same as storing it at TD Bank.

When you think about a cloud, the organizations like ours, that have invested in providing security infrastructure through a cloud, spend a lot more time thinking about how to protect that data than do the small independent businesses that also store the same kind of sensitive information.

5 p.m.

Conservative

Andrew Saxton Conservative North Vancouver, BC

I believe there have been some large retailers that have been hacked, even recently.

5 p.m.

Executive Vice-President, Technology and Operations, SecureKey Technologies Inc.

Hugh Cumming

For sure.

5 p.m.

Conservative

Andrew Saxton Conservative North Vancouver, BC

That sort of goes counter to your argument about small versus large. Large isn't always better. Bigger isn't always better.

5 p.m.

Executive Vice-President, Technology and Operations, SecureKey Technologies Inc.

Hugh Cumming

It certainly isn't their area of expertise in all cases. I think the Target experience says that it just simply isn't their area of expertise and they're looking at organizations that have addressed the issue for different ways of handling payment data.

5 p.m.

Conservative

Andrew Saxton Conservative North Vancouver, BC

Is there anything more you want to say about your new service, briidge.net exchange?