Key takeaways:
- The Irish Data Protection Commission has issued a record-breaking fine of 1.2 billion euros to tech giant Meta for violating EU data privacy regulations.
- The penalty fine is the latest development in a decadelong case sparked by U.S. cybersnooping fears.
- The record-breaking fine serves as a reminder of the importance of data privacy and the need for companies to comply with EU regulations.
The Irish Data Protection Commission has issued a record-breaking fine of 1.2 billion euros to tech giant Meta for violating EU data privacy regulations. This is the largest penalty since the EU’s strict data privacy regime took effect five years ago, surpassing Amazon’s 746 million euro penalty in 2021.
The decision links back to a case brought by Australian privacy campaigner Max Schrems who alleged that the framework for transferring E.U. citizen data to America did not protect Europeans from U.S. surveillance. The European Union has now ordered Meta to stop transferring user data across the Atlantic by October.
Meta, which had previously warned that services for its users in Europe could be cut off, vowed to appeal and ask courts to immediately put the decision on hold. The U.S and E.U. last year “in principle” agreed to a new framework for cross-border data transfers.
The Irish watchdog is Meta’s lead privacy regulator in the 27-nation bloc because the Silicon Valley tech giant’s European headquarters is based in Dublin. The penalty fine is the latest development in a decadelong case sparked by U.S. cybersnooping fears.
The record-breaking fine issued by the Irish Data Protection Commission serves as a reminder of the importance of data privacy and the need for companies to comply with EU regulations. It also highlights the need for companies to take proactive measures to ensure that their data protection policies are up to date and compliant with the latest regulations.
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