The fintech unicorn had an incident where other customers had access to other user’s data for 30 minutes in May
According to ComputerWeekly.com, Sweden’s financial services watchdog is investigating an IT incident at Klarna which enabled users to briefly access the information of others.
Klarna will now be investigated by Sweden’s financial services regulator, Finansinspektionen, on the said violations on bank secrecy.
Bank secrecy forms a major part of operations in financial institutions. These institutions must ensure that their customers’ data is secure, not forgetting to safeguard their privacy.
The inquiry with the Swedish FSA was approached with transparency and full cooperation. The fintech giant cited human error as the cause of the data breach and apologized for the mistake.
We’ve reported that Klarna became first fintech to join Climate Pledge and Race to Zero campaign.