Facebook parent Meta hit with record $1.3-billion fine by EU over data privacy
The European Union has imposed a record $1.3-billion privacy fine on Meta over the transfer of user data across the Atlantic. The European Union slapped Meta with a record $1.3-billion privacy fine Monday and ordered it to stop transferring users’ personal information across the Atlantic by October, the latest salvo in a decade-long case sparked by U.S. cyber-snooping fears. Ireland’s Data Protection Commission handed down the EU fine as Meta’s lead privacy regulator in the 27-nation bloc because the Silicon Valley tech giant’s European headquarters is based in Dublin. The Irish watchdog said it gave Meta five months to stop sending European user data to the U.S. and six months to bring its data operations into compliance “by ceasing the unlawful processing, including storage, in the U.S.” of European users’ personal data transferred in violation of the bloc’s privacy rules. “Unless U.S. surveillance laws gets fixed, Meta will likely have to keep EU data in the EU.” Meta warned in its latest earnings report that, without a legal basis for data transfers, it would be forced to stop offering its products and services in Europe, “which would materially and adversely affect our business, financial condition, and results of operations.” The social media company might have to carry out a costly and complex revamp of its operations if it’s forced to stop shipping user data across the Atlantic.
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