₹2,265 crore fine against social media behemoth Facebook...
Ireland's data privacy regulator on monday imposed a fine of 265 million euros (Rs 2,265 crore) on social media giant Facebook. This is considered a major setback for the company. The fine was imposed as a result of an investigation that began in april 2021, which was related to Facebook's discovery of an aggregated dataset of personal data that was made available online. Additionally, facebook was told to make a number of improvements.
This fine of facebook has been imposed by fourth Ireland's Data Privacy Commissioner (DPC) against one of Meta's companies. The social networking company presently has 13 open inquiries, and it serves as Meta's primary privacy regulator within the european Union. The watchdog fined Meta's instagram subsidiary a record 405 million euros in September; Meta intends to appeal.
Because their EU headquarters are in Ireland, the DPC has jurisdiction over tech companies like Apple, Google, Tiktok, and others. There are currently 40 ongoing inquiries into such firms, including 13 from Meta.
The Irish regulator said in a statement that other relevant EU regulators had been instructed to share with them a draft regime under the bloc's "one-stop shop" system of regulating large multinational companies.
