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Experian hit with enforcement action over trading of people's data
StockMarketWire.com
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Credit checking and data group Experian said it did not expect an enforcement action imposed on its business by UK regulators to have a 'materially adverse' financial impact on the company.
The Information Commissioner's Office said a two-year investigation had found that Experian, along with rivals Equifax and TransUnion, 'were trading, enriching and enhancing people's personal data without their knowledge'.
Experian said it disagreed with the ICO's decision and intended to appeal.
'At heart this is about the interpretation of GDPR and we believe the ICO's view goes beyond the legal requirements,' it said, referring to European general data protection regulation.
'This interpretation also risks damaging the services that help consumers, thousands of small businesses and charities, particularly as they try to recover from the Covid-19 crisis.'
Experian said the enforcement notice was not a fine, but rather a list of actions that reflected the ICO's interpretation of GDPR rules.
'All enforcement actions will be stayed pending the appeal, and we do not anticipate any impact on our marketing products or services,' the company said.
'We do not expect actions from the enforcement notice to lead to a materially adverse financial outcome for the Experian group.'
At 1:19pm: (LON:EXPN) Experian PLC share price was -2p at 2945p
Story provided by StockMarketWire.com
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