Major Italian bank fined €31.8M after employee snooped on 3,500 customers
Italy’s data protection authority (DPA) imposed a fine of €31.8 million on Intesa Sanpaolo S.p.A. for “serious shortcomings in personal data security, due to the inadequacy of the technical and organizational measures adopted.”
A bank branch of Intesa Sanpaolo SpA in Turin, Italy. Francesca Volpi/Bloomberg/Getty.
Italy’s data protection authority (DPA) imposed a fine of €31.8 million on Intesa Sanpaolo S.p.A. for “serious shortcomings in personal data security, due to the inadequacy of the technical and organizational measures adopted.”
The GPDP launched an investigation when the bank reported a data breach in July 2024. The inquiry revealed that an employee accessed the banking information of 3,573 customers over 6,600 times between February 21st, 2022, and April 24th, 2024, without a valid legal reason.
The customers whose accounts were accessed were labeled as “high-risk” and included well-known public figures. To protect their privacy, Intesa Sanpaolo should have implemented stricter controls, the DPA argues.
As a matter of fact, the unlawful access wasn’t detected by any internal control systems, indicating that proper technical and organizational measures weren’t in place to monitor employees’ activities.
In addition, there were failures in transparency, meaning that customers weren’t properly informed about what data was being collected and used.
Furthermore, the integrity and confidentiality of personal data weren’t safeguarded, depicting the overall inadequacy of the adopted measures.
“The operational model used, which allowed operators to query the entire customer base in full circularity, was not in fact adequately balanced by controls designed to prevent and identify unauthorized access,” the Italian DPA said.
For these transgressions, Intesa Sanpaolo was ordered to pay a fine of €31.8 million.
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The bank now has to improve transparency by explaining to customers what data is collected and why it is being processed, only collect the necessary data in accordance with the principles of data minimization and proportionality, document the legal basis for processing personal information, and take measures to ensure data accuracy and security.
In determining the amount of the fine, the GPDP took into account the severity and duration of the violations, the high number of customers involved, as well as the corrective measures adopted by the bank following the events.