Thank you, Chair.
Thank you, witnesses, for being here.
I want to focus my questioning on how the digital industry has so dramatically changed since PIPEDA first became law in 2000. I believe that things have changed dramatically since it came into effect. It actually came into force from 2001 to 2004, over three years. Then, as is normal, there was a judicial review, a parliamentary review, and that started in 2006-07. I think some of you have been involved with that and have provided submissions or have testified.
Bill S-4 contains I think important updates that relate to what we saw when it was established in 2000. In regard to what's being proposed now in Bill S-4, the world has changed. Technology has changed dramatically. That includes the number of people who are using digital technologies for emails, banking, and so on.
We've heard from you. We've created Bill S-4. It provides important updates to current private sector privacy laws that will help protect consumers with regard to their personal information, whether it's been stolen or lost.
There is currently no legal requirement for a business to inform consumers when there has been a data security breach. A business could be hacked and decide right now not to inform customers, but the changes in Bill S-4 will compel businesses to report when hacked and will impose fines of up to $100,000 per individual if the business fails to notify the customer.
It also provides some very important focus on protecting the vulnerable, both the youth and our seniors.
Ms. Romanko, you touched on that, as did Mr. Brown, and that's the focus of your organizations.
The Bankers Association was one of the many that really supported Bill S-4. They applauded the amendments in the bill that will allow banks and financial institutions to advise public guardians, law enforcement, or family members when they have evidence of financial abuse. I think you touched also on the abuse that may be coming from family members. The banks would now have the discretion in regard to how to deal with these serious situations and protect the vulnerable. That does not exist now.
We also heard from the Privacy Commissioner about the tools necessary for the commissioner to do their job. There was not adequate time for them to be able to act. Now, with the changes in Bill S-4, that would change.
If you could, just touch on how things have changed and on these changes that have been now incorporated in Bill S-4 to update PIPEDA.
Ms. Romanko.