Enforcement
EN Avanza Bank AB: Insufficient technical and organisational measures to ensure information security
€1,300,000 fine - Data Protection Authority of Sweden
Content
The Swedish DPA has imposed a fine of EUR 1.3 million on Avanza Bank AB. The controller had used so-called meta pixels on its website and app, which caused personal data such as securities holdings and account numbers to be transmitted to Meta. These transfers took place from November 15, 2019 to June 2, 2021 due to incorrect settings. After becoming aware of this, Avanza deactivated the pixels and confirmed that Meta had deleted the data. Avanza has also improved its internal data security processes.
GDPR Articles: Art. 5 (1) f) GDPR, Art. 32 (1) GDPR
Industry: Finance, Insurance and Consulting