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Facebook To Be Fined £648M For Mishandling User Information

Facebook faces a fine of £648m from Ireland's privacy regulator for its mishandling of user information, marking a significant violation of the European Union's data protection rules.

by Abraham Aali
in NEWS
Reading Time: 2min read
Facebook To Be Fined £648M For Mishandling User Information
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Facebook is set to receive a fine of more than €746m (£648m) and may be ordered to suspend data transfers to the US, as Ireland’s Data Protection Commission prepares to penalize the social media giant for its mishandling of user data. This fine, expected to be confirmed soon, will surpass the previous record GDPR breach fine of €746m imposed on Amazon by Luxembourg in 2021.

The decision by the Irish regulator, acting as the lead privacy regulator for Facebook and Meta across the EU, is likely to result in the temporary halt of data transfers from Facebook’s European users to the US. However, the ruling is expected to have a grace period for compliance and may be subject to an appeal by Meta.

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3. Black Banx continues to grow amid economic uncertainty
4. Implications of EU Data Transfer Suspension for Meta
5. Meta’s Transition to the Metaverse Amidst Revenue Success

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Implications of EU Data Transfer Suspension for Meta

The ruling stems from a legal challenge brought by Austrian privacy campaigner Max Schrems, relating to concerns over the protection of European users’ data from US intelligence agencies following the Edward Snowden revelations. If implemented, the suspension of data transfers could have far-reaching implications for businesses relying on standard contractual clauses (SCCs) and the online services used by individuals and businesses.

While Meta, the parent company of Facebook, Instagram, and WhatsApp, has faced nearly €1bn in fines from the Irish regulator since September 2021, critics argue that a financial penalty alone will not suffice without significant changes to Facebook’s data-dependent business model.

The Irish data watchdog has also regulated other technology platforms such as Apple, Google, and TikTok, whose EU headquarters are in Ireland.

In previous incidents, Meta was fined €265m for a data breach and €405m for allowing teenagers to publicly display personal contact details through Instagram.

It is important to note that any potential data transfer suspension could be rendered irrelevant if a new data transfer agreement is implemented by the US and EU, as negotiations have taken place at a political level.

Meta’s Transition to the Metaverse Amidst Revenue Success

Despite these challenges, Meta remains focused on its transition away from social media and toward the development of the Metaverse, a virtual reality program. The company reported better-than-expected first-quarter revenue of $28bn but has faced struggles in competing with the growing popularity of platforms like TikTok, particularly among younger demographics. Meta has also undergone mass layoffs as part of a planned efficiency drive announced by founder Mark Zuckerberg earlier this year.

Tags: Facebook
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Abraham Aali

Abraham Aali

Abraham Aali is a Staff Writer for Biztech Age. He covers industry news, including interviews with executives and industry leaders about the products, services and trends affecting small businesses, drawing on his 20 years of marketing knowledge.He holds a Master’s degree in Business Administration from Qatar University and MSIT from King Abdulaziz University.

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