Reason: Data breach… Record EU penalty to Goal

The regulatory agency of the European Union (EU) has fined Meta with 1,200 million dollars for violating the rules on privacy and protection of personal data by sending user information to the United States, the owner of Facebook.

In addition, the regulator has ordered Meta to stop the transfer of user data to the United States.

PENALTY RECORD

The $1.2 billion fine dwarfs the €746 million EU privacy penalty previously imposed on Amazon. In addition to the fine, Meta was given five months to “suspend future transfers of personal data to the US.”

In early 2020, the EU’s highest court struck down an agreement between the EU and the US governing transatlantic data flows out of fear that citizens’ data would not be secure once it reaches US servers. .us

META WILL OBJECT

The record fine, delivered today, came at a time of slowdown, as Meta, which has a market capitalization of $630 billion, struggled with falling ad revenue and began layoffs. The company is expected to appeal the decision.

“We use the same legal mechanism as thousands of other companies in Europe that want to provide services, but I am disappointed to have been attacked here,” said Nick Clegg, Meta’s head of global affairs.