Avanza Bank AB – €1,300,000 Fine (Sweden, 2024)
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.
Avanza Bank AB was fined €1.3 million for sending personal data to Meta without proper settings on their website and app. This data included sensitive information like account numbers and securities holdings. The bank has since fixed the issue and improved its data security processes.
What happened
Avanza Bank AB transmitted personal data to Meta due to incorrect settings on their website and app.
Who was affected
Customers of Avanza Bank whose personal data, including securities holdings and account numbers, were sent to Meta.
What the authority found
The Swedish authority found that Avanza Bank lacked proper data protection measures, violating GDPR's requirements for data security.
Why this matters
This case highlights the importance of proper data settings for companies using tracking tools. Businesses should regularly review their data protection practices to avoid costly fines.
GDPR Articles Cited
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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.
Related Enforcement Actions (0)
No other enforcement actions found for Avanza Bank AB in SE
This is the only recorded action for this entity in this jurisdiction.
Details
Fine Date
24 June 2024
Authority
Integritetsskyddsmyndigheten
Fine Amount
€1,300,000
About this data
Cite as: Cookie Fines. Avanza Bank AB - Sweden (2024). Retrieved from cookiefines.eu
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