Swedish Regulators Fine Bank €1.3 Million for Improper Data Sharing with Meta
Swedish regulators have levied a fine against a major domestic bank for unlawfully transferring customer data to Meta's advertising platforms. The Swedish Supervisory Authority (SA) announced a €1.3 million administrative penalty against Avanza Bank AB after an investigation found the bank had been funneling personal information about up to 1 million customers to Meta, the parent company of Facebook, over an 18-month period.