EU, Facebook, Fines, Meta

Breaking News: Meta Slapped With Historic $1.3 Billion Fine For Data Transfers

Meta Slapped with Historic 1.3 Billion Fine for Data Transfers

Meta Slapped with Historic 1.3 Billion Fine for Data Transfers

The European Union’s privacy authority has fined Meta, Facebook’s parent company, a record 1.2 billion euro ($1.3 billion). 

The sanction was levied by Ireland’s Data Protection Commissioner (DPC) for Meta’s mismanagement of user information and ongoing data transfers to the US despite a 2020 EU court judgement canceling the EU-US data transfer agreement. Agreement on data transit. This penalty exceeds the previous record of 746 million euros imposed by Luxembourg on Inc in 2021.

The dispute over Meta’s data storage policies began a decade ago, when Austrian privacy activist Max Schrems voiced worries about U.S. surveillance in the aftermath of revelations by former U.S. Edward Snowden is a contractor at the National Security Agency.

Meta intends to appeal the verdict and the excessive penalties, claiming that it sets a dangerous precedent for other businesses. The business is also asking the courts to postpone the suspension orders.

“Without the ability to transfer data across borders, the internet risks being carved up into national and regional silos,” Meta said.

Before ceasing transfers, Meta wants a new agreement permitting secure data transfers of EU residents’ personal data to the US to be fully implemented.

As the principal EU regulator for several leading IT businesses domiciled in Ireland, the Irish Data Protection Commissioner sees the suspension ruling as potentially precedent-setting for other enterprises.

The DPC did not initially propose a sanction, but four other EU supervisory agencies disagreed, resulting in the record fine being introduced following a judgement by the European Data Protection Board (EDPB).

The DPC has penalized Meta the most of any technology company and has ten open investigations into the social media group’s services.