Irish Regulator Fines Facebook 265 Million Euros for Breach of Privacy

Published on:

Last Updated on November 28, 2022 by Bitfinsider

On Monday, Ireland’s data privacy authorities issued a 265 million euro ($277 million) charge on social networking behemoth Facebook, increasing the total fines levied against parent company Meta to over 1 billion euros.

The punishment was imposed as a consequence of an inquiry that began in April 2021 into the finding of a compiled dataset of Facebook personal data that had been made available online. Facebook was also compelled to implement a number of remedial actions.

The sanction imposed on Monday is the fourth imposed by Ireland’s Data Privacy Commissioner (DPC) on one of Meta’s firms. It is Meta’s principal privacy regulator inside the European Union, and it currently has 13 open enquiries concerning the social media organization.

The authority slapped its Instagram unit with a record punishment of 405 million euros in September, which Meta intends to challenge.

Because their EU headquarters are in Ireland, the DPC regulates Apple, Google, Tiktok, and other IT behemoths. It now has 40 active investigations of such companies, including the 13 concerning Meta.

Other relevant EU authorities concurred with the judgment published on Monday, according to the Irish regulator, after it shared a draft ruling with them last month under the bloc’s “one-stop shop” approach for supervising major multinational corporations.

Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.