Sweden

Avanza Bank AB

1,300,000 €

GDPR enforcement action by Data Protection Authority of Sweden on 2024-06-24.

Rank · Sector

#25

of 322 in Finance, Insurance and Consulting

Rank · Sweden

of 46

Rank · All fines

#149

of 3,042

Case details

Authority: Data Protection Authority of Sweden
Date: 2024-06-24
Controller / Processor: Avanza Bank AB
Sector: Finance, Insurance and Consulting
Quoted Articles: Art. 5 (1) f) GDPR, Art. 32 (1) GDPR
Type of violation: Insufficient technical and organisational measures to ensure information security

Summary

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.

Open original source Links to the regulator's original publication or another source.