Creditinfo Lánstraust hf. – €257,000 Fine (Iceland, 2023)
General GDPR enforcement action
This case relates to broader data protection obligations, not specifically to cookie or consent banner compliance. It is not included in cookie statistics or the Risk Calculator.
Creditinfo Lánstraust hf. was fined EUR 257,000 for improperly registering loan defaults. They registered small unpaid loans even though they didn't meet the legal requirements. This case highlights the importance of following data protection rules when handling sensitive financial information.
What happened
Creditinfo Lánstraust hf. registered loan defaults that did not meet the required conditions.
Who was affected
Individuals whose small loan defaults were improperly registered by Creditinfo Lánstraust hf.
What the authority found
The authority ruled that Creditinfo Lánstraust hf. failed to comply with data protection rules regarding the registration of loan defaults.
Why this matters
This ruling emphasizes that companies must adhere to strict data protection standards, especially when dealing with financial data. Other businesses should ensure they meet all legal requirements before registering sensitive information.
GDPR Articles Cited
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National Law Articles
The Icelandic DPA has imposed a fine of EUR 257,000 on Creditinfo Lánstraust hf.. The controller had registered information on loan defaults even though the required registration conditions for this have not been in place. For instance, unpaid small loans were registered although they were below the required minimum amount. In assessing the fine, the fact that a large number of people were affected by the incident and that the controller was pursuing profits were considered aggravating factors.
Related Enforcement Actions (0)
No other enforcement actions found for Creditinfo Lánstraust hf. in IS
This is the only recorded action for this entity in this jurisdiction.
Details
Fine Date
27 June 2023
Authority
Persónuvernd
Fine Amount
€257,000
Enforcement Tracker ID
ETid-1952
About this data
Cite as: Cookie Fines. Creditinfo Lánstraust hf. - Iceland (2023). Retrieved from cookiefines.eu
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