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Avanza Bank faces SEK15 million Swedish GDPR fine

( June 25, 2024, 08:59 GMT | Official Statement) -- MLex Summary: Swedish online bank Avanza has been fined 15 million kronor (around 1.3 million euros) by the national Data Protection Authority, for transferring personal data to Meta. Avanza had used Meta Pixel, an analytics tool, on its website and app to optimize the bank's ad campaign on social platforms, which caused the illegal transfer of around a million customers' data to Meta. The data included, among other things, information on loan amounts, account numbers and social security numbers. Avanza lacked sufficient technical and organizational measures to secure data confidentiality, in violation of Articles 5.1(f) and 32 of the EU's GDPR, the regulator said.Statement follows in Swedish. The decision is attached in Swedish. ...

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