Resources

A plain-language glossary, a list of official Canadian sources where information can be verified directly, and questions worth raising with an appropriately qualified professional.

01

Glossary

These describe what words mean. They do not recommend any course of action.

Authentication: Confirming that someone is who they claim to be, usually before they are allowed to see or change anything.
Authorisation: Confirming that an already-identified person is permitted to carry out a particular action. Distinct from authentication, which only establishes identity.
Two-factor authentication (2FA): A sign-in that requires two different kinds of proof — commonly something known, such as a password, plus something held, such as a code generated on a phone.
Multi-factor authentication (MFA): The broader term for requiring more than one independent form of proof. Two-factor authentication is the most common form of it.
Encryption: Encoding information so it is readable only by someone holding the right key. Used both while information travels and while it is stored.
Digital wallet: An application that stores payment or identity credentials so they can be presented without re-entering them each time.
Electronic funds transfer: A general term for moving money between accounts through digital instructions rather than physical documents.
Pre-authorised debit: An arrangement where an organisation is permitted, in advance, to withdraw amounts on an agreed schedule.
Direct deposit: An arrangement where payments due to a person are placed into their account electronically rather than issued as a cheque.
Phishing: Contact that imitates a legitimate organisation in order to obtain credentials or personal information. It may arrive by email, message, or telephone.
Credit report: A record, held by a credit reporting agency, of how a person has managed borrowing over time.
Credit score: A number calculated from the contents of a credit report. Different agencies may calculate different numbers from broadly similar information.
Personal information: Information about an identifiable individual. What counts as personal information, and how it must be handled, is set out in privacy legislation.
Data minimisation: The practice of collecting only the information genuinely needed for a stated purpose, and keeping it only as long as that purpose requires.
Cryptocurrency: A digital asset recorded on a distributed ledger rather than issued by a central bank. Included here as a definition only.
Digital identity verification: A process that confirms a person's identity using digital evidence, such as a document scan or a check against an existing record.

02

Where to verify information

Nordvern International is not affiliated with, endorsed by, or connected to any organisation listed below. These links are provided so that readers can verify information directly with the relevant official source.

Financial Consumer Agency of Canada
Consumer-facing information about financial products, rights, and complaints.
Bank of Canada
Canada's central bank. Publishes research and information on currency and the financial system.
Payments Canada
Operates the national payments infrastructure and publishes material about how payments clear and settle.
Canada Deposit Insurance Corporation
Explains which deposits are protected, and the limits that apply.
Canadian Securities Administrators
The umbrella body for provincial and territorial securities regulators.
Canadian Anti-Fraud Centre
Collects reports of fraud and publishes information about current methods.
Office of the Privacy Commissioner of Canada
Oversees federal privacy law and publishes guidance on personal information.
Get Cyber Safe
Public information campaign on online security practices.
Canada Revenue Agency
Authoritative on tax matters and on how the agency does and does not make contact.

03

Questions worth asking

Questions a reader may wish to raise with an appropriately qualified professional, or with the organisation making a request. Nordvern International does not answer them on anyone's behalf.

What exactly am I being asked to authorise, and what happens if I decline?
Which organisation is responsible if something goes wrong, and how do I reach them?
What information is being collected, and what is it used for?
How long is that information kept, and how do I ask for it to be corrected or removed?
Is this arrangement something I can cancel later, and what does cancelling involve?
Where is the official published source for this, so I can check it myself?
What are the fees or costs, including any that only apply in certain circumstances?
Who else can see this information once I have provided it?

Important information Nordvern International provides general educational information and clarification about digital-finance topics. The information presented on this website is not financial, investment, legal, accounting, or tax advice. Nordvern International does not accept or hold funds, execute financial transactions, sell investments, manage accounts, or provide personalized financial recommendations. Users should verify important information through official sources and consult appropriately qualified professionals when necessary.