- Enforcing jurisdiction
- Iceland · Geography does not establish applicable law.
- Confirmed applicable legislation
- Privacy topics
Creditinfo Lánstraust hf. – €257,000 Fine (Iceland, 2023)
Privacy enforcement record
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Creditinfo Lánstraust hf. was fined EUR 257,000 for registering loan defaults without meeting legal conditions. The Icelandic DPA found that the company registered unpaid loans that were below the minimum amount required. This case highlights the need for strict adherence to data processing laws.
What happened
Creditinfo registered loan defaults that did not satisfy the necessary registration conditions.
Who was affected
Individuals whose loan defaults were improperly registered, potentially impacting their credit ratings.
What the authority found
The DPA ruled that Creditinfo violated data protection rules by improperly registering loans that did not meet legal criteria.
Why this matters
This decision emphasizes the importance of compliance with data processing laws. Companies must ensure they understand and follow the legal requirements for handling sensitive financial data.
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Review needed — 6 March 2026.
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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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