Privacy and Information Security
RBC has a longstanding commitment to safeguarding the personal
information and confidentiality information of both our clients
and our employees. This commitment is a cornerstone of our
business and remains one of our highest priorities.
We have had a formal Privacy
Code since 1991. In 2005, we formed a Global Privacy Management
Team that comprises Privacy Officers from all RBC businesses
and functions, led by our Chief Privacy Officer. This team
provides oversight and guidance to our businesses in the implementation
of privacy management practices and compliance, as well as
developing training and awareness initiatives.
In 2005, we revised several privacy policies, including the
RBC Enterprise Client Privacy Policy governing all units of
our operations globally and serving as the basis for any unit
or geographic-specific privacy policies. These policies, in
conjunction with our Code of Conduct and Information Security
policies, outline expectations and requirements for compliance
by employees and RBC with respect to the collection, use,
disclosure and safeguarding of information in our possession.
With increasing reports of security breaches and identity
theft, privacy and security are top-of-mind for all of our
stakeholders. RBC has placed significant focus on building
upon programs and strategies to safeguard information. In
2005, we introduced an enhanced authentication solution to
better protect online banking clients from falling victim
to online fraud.
RBC also provides timely consumer education material about
online security threats such as spyware and "phishing,"
a type of fraud that is designed to trick individuals into
disclosing confidential financial information for the purpose
of identity theft. These bulletins also include tips for clients
to follow to better protect their personal computing activities.
Fraud prevention
RBC places a high priority on protecting clients against
potential losses from financial fraud. We work closely with
other financial institutions, industry associations and law
enforcement authorities globally to combat financial crime.
We have also produced an entire website of information on
fraud and debit card
safety for clients, and a publication called Straight
Talk about financial fraud, available both through our
branch network.
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