Facebook parent Meta hit with record fine for transferring European user data to U.S.
The European Union slapped Meta with a record $1.3 billion privacy fine on May 22 and ordered it to stop transferring user data across the Atlantic by October, the latest salvo in a decade long case sparked by U.S. cybersnooping fears. The penalty fine of €1.2 billion euros from Ireland's Data Protection Commission is the biggest since the EU's strict data privacy regime took effect five years ago, surpassing Amazon's €746 million euro penalty in 2021 for data protection violations. Meanwhile, Brussels and Washington signed an agreement last year on a reworked Privacy Shield that Meta could use, but the pact is awaiting a decision from European officials on whether it adequately protects data privacy. TikTok has tried to soothe Western fears about the Chinese-owned short video sharing app's potential cybersecurity risks with a $1.5 billion project to store U.S. user data on Oracle servers.
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