The Credit Information Act

Credit-rating agencies collect information regarding the financial position of companies and the financial and personal circumstances of individuals.

Everyone over the age of 15 is on the computer files of Sweden's largest credit-rating agencies.

Anyone planning to conduct credit-rating operations normally requires a permit from the Data Inspection Board. The Data Inspection Board carries out inspections to ensure that the operations are being conducted in a proper manner.

Particulars concerning a private person may only be provided to a third party if there is a legitimate reason, for example an investigation into creditworthiness. The person concerned must always receive a copy of the information that has been supplied.

Negligence on the part of a credit-rating agency can result in a liability to pay damages and those responsible may be fined or imprisoned.