- Enforcing jurisdiction
- Cyprus · Geography does not establish applicable law.
- Confirmed applicable legislation
- Privacy topics
Freedom Finance Europe Ltd – Complaint Upheld (Cyprus, 2025)
Privacy enforcement record
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Freedom Finance Europe Ltd faced a complaint for not properly handling a customer's request to delete their account and data. The DPA found that the company did not comply with the request in a timely manner. This case emphasizes the importance of respecting customers' data rights.
What happened
Freedom Finance Europe Ltd failed to fulfill a customer's erasure request for their account and personal data.
Who was affected
A customer of Freedom Finance Europe Ltd who requested the deletion of their account and data.
What the authority found
The DPA upheld the complaint against Freedom Finance Europe Ltd for not adequately addressing the customer's request to erase their data.
Why this matters
This case serves as a reminder for companies to take customer data rights seriously and ensure they have processes in place to handle such requests effectively.
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The controller is Freedom Finance Europe Ltd, operating under the Freedom24 brand. It is an online investment banking firm that assists clients in investing in the stock market, whose main establishment is in Cyprus. In November 2022, the data subject submitted an erasure request to Freedom Finance Germany TT GmbH, a subsidiary of the controller located in Germany. He requested the cancellation of his account, the erasure of his data and to stop receiving advertising emails from the controller. On the same day the data subject received a reply from customer support informing him that he would need to log into his account for identification in order to proceed with the closure of his account. The data subject contacted the controller again, demanding the deletion without logging in to his account, but he did not receive another reply and his account was not deleted; rather, he was still receiving relevant emails. The data subject lodged a complaint with the Berlin DPA (Data Protection Authority for the German state of Berlin- BlnBDI) regarding the controller’s failure to comply with his erasure request. The complaint was subsequently transmitted to the Cypriot DPA (Commissioner for Personal Data Protection), as the supervisory authority of the main establishment of the controller (lead authority), pursuant to Article 56 GDPR. The controller claimed that its response to the data subject’s request was clear and provided all necessary instructions for the identification process in order to cancel his account. The data subject’s second request was similar to the first one so there was no need to provide the same response. In any case, this process was clearly described in its general terms of business which the data subject had accepted. Furthermore, the controller claimed that on February 2024 it closed the data subject’s account and sent him a notification email, including the information relating to GDPR on the retention of personal data for 7 years. The DPA sta
Outcome
Complaint Upheld
A data subject complaint that was upheld by the DPA.
Related Enforcement Actions (1)
Other enforcement actions involving Freedom Finance Europe Ltd in CY
Details
Decision Date
22 January 2025
Authority
DPA Commissioner
About this data
Cite as: Cookie Fines. Freedom Finance Europe Ltd - Cyprus (2025). Retrieved from cookiefines.eu
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