Sweden's Klarna fined $733,000 over insufficient GDPR inform...

COPENHAGEN :Swedish payments group Klarna must pay a fine of 7.5 million crowns ($733,324) for violating the EU's General Data Protection Regulation (GDPR) by not providing sufficient information to its users, a Swedish court of appeal ruled on Monday. Klarna had failed to give clients sufficient information about how it would store their personal data, the court said in a statement, adding that the information was unclear or difficult to access. The case concerned privacy notes used between March and June, 2020, which have since been updated, according to an earlier statement by Klarna, a buy now, pay later financial services company. "We have just received the court's decision, and it is too early to comment," a company spokesperson told Reuters on Monday. Under the European Union's GDPR, companies are legally obliged to inform users and clients about how and why they handle person...