Meta fined over $400 million in Ireland for EU privacy breach
Mark Zuckerberg, chief executive officer of Meta Platforms Inc., left, arrives in federal court in San Jose, California, U.S., on Tuesday, December 20, 2022.
David Paul Morris | Bloomberg | beautiful pictures
parent company Facebook meta on Wednesday was slapped with a pair of fines totaling more than $400 million as Ireland’s privacy regulator concluded the company’s advertising and data processing practices violated its own laws. EU investment.
in one statement On Wednesday, the Irish Data Protection Commission said Meta should be required to pay two fines — one, a 210 million euro ($222.5 million) fine for violating the United Nations General Data Protection Regulations. European Union, or GDPR, and second, 180 million euro fines related to Instagram’s violation of a similar law.
Combined, the fine amounted to 390 million euros ($414 million).
The fines mark the conclusion of two protracted investigations into Meta by the Irish regulator, which have been criticized for the delay in process. The DPC began investigating the company on May 25, 2018, the date the EU GDPR came into effect.
GDPR places strict requirements on companies regarding the handling of people’s information.
Meta was not immediately available for comment when contacted by CNBC on Wednesday.