The UK’s data protection watchdog says “numerous people” made it aware of the marketing email Klarna sent out. Its biggest customer growth this year has incidentally been in the UK, as well as the US. That’s six times the losses it made in the same period last year.īut despite widening losses, the fintech’s year-on-year growth sits at 37%. This means a fine could look as big as $29.6 million.Ĭonsidering the start-up made its first annual loss in 2019, and that losses have widened in the first six months of this year, a fine of that size could be significant.īetween January and June 2020, the fintech operated at a negative profit of $62.98 million. It made SEK 7.2 billion ($740 million) 2019. Klarna could be slapped with a penalty of up to 4% of its annual revenue. If it has flouted general data protection regulation (GDPR), the firm could face a hefty fine. ![]() Klarna claims to have around 8.6 million customers in the UK. “At no point has customer data been compromised and the data has been used in line with our terms and conditions and our privacy notice.” Impact of a GDPR breach for Klarna “Klarna only revealed themselves by making a mistake, but it raises a lot of questions about where our data is stored and where it goes.” ![]() ![]() “The email is evidence that companies are collecting our data and they’re not visible to us,” said Armstrong. It also promised them that they had not been added to a marketing database. ![]() Klarna followed the initial message with a second email apologising to recipients. Who sold them my email?” tweeted Christine Armstrong, one of the recipients. “Now why would have ‘accidentally’ sent me their newsletter when I have never used their services. Klarna claims to have around 8.6 million customers in the UK
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