British Columbia Passes Freedom Of Information And Protection Of Privacy Amendment Act, Amendments Needed For Data Breaches

October 18, 2021, British Columbia first announced its proposal to update the province’s privacy legislation, Bill 22 – British Columbia’s Freedom of Information and Protection of Privacy Act (FIPA). One of the most significant proposed changes to the private sector includes the requirement for mandatory breach reporting – where companies must disclose and report on […]

BC Chamber of Commerce receives applications to support Shop Local initiatives

British Columbians are working to build healthy communities by supporting the Shop Local initiative across the province. Partnered with the federal government, the BC Chamber of Commerce received 88 applications from local businesses seeking over $5 million to support Shop Local initiatives. “It’s been an emotionally and financially draining time for many of these business […]

5 ways to keep your employees happy and motivated during the pandemic

Until recently, where you lived was where you worked. Over the past few years we’ve experienced a dramatic shift. Now it’s possible for employees to work anywhere they want across the country from the comfort of their own home. The pandemic accelerated the adoption of remote work for the next foreseeable future. While there are […]

Over 6,000 Coinbase accounts had cryptocurrency stolen by hackers

Just a few days ago, hackers stole cryptocurrency from over 6,000 Coinbase customers. Confirmed via a breach notification letter sent by Coinbase. A copy of the letter was posted here on the Attorney General of California’s website. The breach occurred between March and May 20th, 2021. During that time, malicious parties exploited a multi-factor authentication […]

Two of three consumers would stop shopping with brand/merchant after ecommerce data breach

Over the past few years, data security has become an increasingly serious worry for today’s consumers and business alike. The recent uptick of ecommerce shopping over the pandemic not only increased fraudulent activity but also increased consumer awareness to fraud. As consumers spend more time making digital purchases and the news continues to broadcast major […]

Mastercard to discontinue magnetic strip on cards

Mastercard is discontinuing magnetic strips on their debit and credit cards in the next few years starting in Europe by 2024 and having them completely phased out by 2033. While swiping cards aren’t going away immediately (as all cards require them currently), Mastercard will make magnetic stripes optional in 2024, and in 2029 Mastercard will […]

Mastercard CFO says US consumers “ready and willing” to spend more than before

Mastercard CFO Sachin Mehra told CNBC that consumer spending in the United States is expected to surpass pre-pandemic lockdown levels based on Mastercards second-quarter earnings report. Mastercard’s Q2 year-over-year net revenue rose +36% to $4.5 billion this year and was up +9% in Q1 according to its latest results.  Additionally its gross dollar volume (purchase […]

5 Things to Consider When Choosing Payment Processing

  Whether you’re a new merchant to the game, or making a switch, choosing the right payment processor can be an overwhelming process. With dozens or more options to choose from and confusing terms like merchant account or chargeback to name a few, choosing a payment processor might seem like a headache. Luckily, we’re here […]

Canadians Experience Some Drastic Salary Increases, Benefits due to Labour Shortages

Approximately one in ten (~9%) of all Canadians lost their jobs in 2020 due to the pandemic. After leaving around 3 million Canadians jobless over the past year, the pandemic is proving to disrupt the labor market further – with employees taking the advantage. Employers are now having a more difficult time filling vacant positions […]

What is Ransomware and What Should You Know?

Ransomware is a type of malware from cryptovirology – the study of using cryptography to design malicious software, that threatens to lock out a victim’s access to or publish their personal data unless a ransom is paid.   Essentially, ransomware uses encryption to hold a user or organization’s critical information at ransom. The data is […]