Housing Finance Corporation: Insufficient legal basis for data processing

The Cypriot DPA has imposed a fine of EUR 10,000 on the Housing Finance Corporation. The controller stored client loan data for longer than necessary and did not ensure that the data was correct. This resulted in the controller incorrectly declining a client's loan application.

GDPR Articles: Art. 5 (1) d), e) GDPR, Art. 24 (1) GDPR
Industry: Finance, Insurance and Consulting