Business

Friday 28 July 2017

Swedish CEO is declared bankrupt after identity theft

Alf Goransson
Alf Goransson

Niclas Rolander

The man running Sweden's biggest security firm was declared bankrupt this week after his identity was hacked.

The poor branding implications were hard to miss for Securitas AB, whose boss hopes to put the whole awkward incident behind him, by reversing the ruling.

Alf Goransson, pictured, the company's 59-year-old CEO since 2007, appealed the July 10 bankruptcy decision by the Stockholm District Court, which had acted on false information, the company said on Wednesday.

The high-profile case has brought home the risks of increasingly digital credit and legal systems. Identity thieves used the CEO's identity to secure a loan of an undisclosed sum, after which a bankruptcy application was filed in his name. The identity theft took place in March but Mr Goransson didn't know he'd been hacked until this week, the company said.

The hack attack "has no effect on the company, other than that our CEO has been declared bankrupt," a spokeswoman said. "And that will hopefully only last until later today, depending on how soon they can remove the decision."

But data theft of a prominent Swedish CEO raises major questions for a country leading the way in digitisation - but also seeing a sharp increase in identity fraud. (Bloomberg)

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