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Sweden-based financial watchdog to investigate Klarna

Tuesday 6 July 2021 09:40 CET | News

Sweden’s financial watchdog has decided to investigate payments company Klarna over a potential breach of banking secrecy laws in connection with an IT incident at the firm in May 2021, according to whbl.com.

For a 30 minute period on May 27 2021, Klarna customers were shown other users’ data – a digital mishap which the firm, in a statement in June 2021, blamed on human error. A spokesperson for Klarna told Reuters that the probe, ‘was very much expected as part of our regular dialogue with the Swedish FSA and as always we approach this with full cooperation and transparency’.

Customers card details were not part of the information accidentally shown to other users, Klarna said in June 2021. The watchdog said the issue around bank secrecy would be added to a more general survey it announced in March 2021 into Klarna’s processes for handling information and cyber security risks.


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Keywords: Klarna, BNPL, data breaches
Categories: Payments & Commerce
Companies:
Countries: Sweden
This article is part of category

Payments & Commerce