Swedish Watchdog To Investigate Klarna for Bank Secrecy Breach

Sweden's financial watchdog said on Monday it was investigating payments firm Klarna over a potential breach of banking secrecy laws in connection with an IT incident at the firm in May. From a report: For a 30 minute period on May 27, Klarna customers were shown other users' data - a digital mishap which the firm, in a statement on June 4, blamed on human error. "(We) will investigate whether Klarna has violated bank secrecy in connection with an IT incident in May where the bank's customers were able to access information about each other for a limited time," Sweden's Finansinspektionen said in a statement. 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."

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