- Enforcing jurisdiction
- Cyprus · Geography does not establish applicable law.
- Confirmed applicable legislation
- No confirmed legal basis recorded.
- Privacy topics
Bank of Cyprus Public Company Ltd. – €17,000 Fine (Cyprus, 2022)
Privacy enforcement record
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The Bank of Cyprus was fined for mistakenly transferring customer data during a sale of credit facilities. This incident affected thousands of individuals and shows the importance of protecting personal data during business transactions.
What happened
The bank inadvertently transferred data of customers whose credit facilities had not been sold to the buyer.
Who was affected
Approximately 5,500 individuals whose data was involved in the transfer were affected.
What the authority found
The DPA found that the bank did not implement adequate measures to protect personal data, leading to the fine.
Why this matters
This case serves as a reminder for financial institutions to strengthen their data protection measures. Companies must ensure they have proper safeguards in place to prevent data breaches.
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The Cypriot DPA has imposed a fine of EUR 17,000 on Bank of Cyprus Public Company Ltd. In the context of a sale of credit facilities, the bank had inadvertently transferred data of customers whose credit facilities had not been sold to the buyer. The incidents affected approximately 11,673 records and 5,500 individuals. The DPA found that the bank had failed to implement sufficient technical and organizational measures to protect personal data.
Related Enforcement Actions (0)
No other enforcement actions found for Bank of Cyprus Public Company Ltd. in CY
This is the only recorded action for this entity in this jurisdiction.
Details
Fine Date
1 January 2022
Authority
Commissioner for Personal Data Protection
Fine Amount
€17,000
About this data
Cite as: Cookie Fines. Bank of Cyprus Public Company Ltd. - Cyprus (2022). Retrieved from cookiefines.eu
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