RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home company news

Meta Sanctioned with €1.2 Billion Fine for Unlawful EU-US Data Transfer.

Rate Captain by Rate Captain
May 22, 2023
in company news, News
Reading Time: 2 mins read
A A
0
Meta Sanctioned with €1.2 Billion Fine for Unlawful EU-US Data Transfer.
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

Meta, the owner of Facebook, has been sanctioned with a staggering fine of 1.2 billion euros ($1.3 billion) for unlawfully transferring user data from the European Union (EU) to the United States. The Irish Data Protection Commission (DPC), acting on behalf of the EU, announced this record penalty on Monday, citing a breach of a previous court ruling.

The investigation into Meta Ireland’s data transfer practices commenced in 2020, focusing on the transfer of personal data from the EU to the United States. The DPC, headquartered in Dublin, found that Meta had failed to address the risks to individuals’ fundamental rights and freedoms, as previously identified by the Court of Justice of the European Union (CJEU).

AlsoRead

Dangote Links Higher Cement Prices in Nigeria to Heavy Taxes and Regulation

NNPC Records N380bn Revenue Drop in September 2025 Amid Production Challenges

Dangote Refinery Faces Backlash from Engineers Over Proposed Transfers to Other Group Units

As the DPC failed to reach a consensus, it referred the matter to the European Data Protection Board (EDPB), which subsequently ordered Meta Ireland to halt future transfers of personal data to the United States and pay a substantial fine of 1.2 billion euros.

Reacting to the EDPB’s decision, Nick Clegg and Jennifer Newstead from Meta expressed their concerns, emphasizing that the ruling raised significant questions. They pointed out that the United States has made substantial efforts to align with European rules through recent reforms. They also highlighted the continuation of data transfers to countries like China, which face fewer challenges.

This is not the first time that Meta has faced severe penalties from EU regulators. In addition to the recent fine, Meta has already been hit with fines in the hundreds of millions of euros for data breaches related to its Instagram, WhatsApp, and Facebook services. In fact, this is the third fine Meta has received in the EU this year alone, and the fourth in just six months.

The EU’s General Data Protection Regulation (GDPR) has been instrumental in holding tech giants accountable for their data practices. In 2021, Amazon, another major player in the tech industry, was fined 746 million euros in Luxembourg for violating the GDPR.

The imposition of this massive fine on Meta underscores the EU’s commitment to safeguarding the privacy and data protection rights of its citizens. It also sends a clear message to tech companies that compliance with data protection regulations is non-negotiable, regardless of their size or influence.

Previous Post

Airtel, Glo, and 9mobile experienced a loss of 4,765 customers to MTN in Q1 2023.

Next Post

The role of technology in transforming the entrepreneurial landscape.

Related News

Aliko Dangote’s Wealth Drops by N1.45 Trillion Following Naira’s Exchange Rate Change

Dangote Links Higher Cement Prices in Nigeria to Heavy Taxes and Regulation

by Victoria Attah
December 22, 2025
0

President of the Dangote Group, Aliko Dangote, has attributed the higher cost of cement in Nigeria compared to prices in...

NNPCL Reports Record Profit of N2.548tn, Uncovers 52 Illegal Refineries

NNPC Records N380bn Revenue Drop in September 2025 Amid Production Challenges

by Akpan Edidong
October 23, 2025
0

The Nigerian National Petroleum Company Limited (NNPC Ltd) reported a significant financial setback in September 2025, with a revenue decline...

Oil Marketers Dismiss Claims of Dangote Refinery Selling Fuel in Dollars

Dangote Refinery Faces Backlash from Engineers Over Proposed Transfers to Other Group Units

by Akpan Edidong
October 9, 2025
0

Tensions are simmering at the Dangote Petroleum Refinery, where a group of engineers claims they're being unfairly targeted for their...

Nigerian Equity Market Sees Impressive N1.08tn Wealth Gain Amidst Bullish Trading.

Nigerian Stock Market Investors Gain N1.8 Trillion in September 2025 Amid CBN Reforms

by Stephen Akudike
October 2, 2025
0

Investors in Nigeria’s stock market reaped N1.811 trillion in gains during September 2025, driven by heightened confidence spurred by the...

Next Post
The role of technology in transforming the entrepreneurial landscape.

The role of technology in transforming the entrepreneurial landscape.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Access Bank Fails to Complete Bidvest Bank Acquisition as Long-Stop Date Expires

February 11, 2026
IMF Lists Top 10 African Nations with Highest Debt Burdens

Nigeria Records $10.83 Billion Trade Surplus in First Nine Months of 2025 on Stronger Exports

February 11, 2026

Popular Story

  • CBN – FG incurred N930.8bn Fiscal Deficit in January and February 2023.

    CBN Governor Cardoso Warns Excess Liquidity and 2027 Elections Threaten Nigeria’s Hard-Won Stability

    0 shares
    Share 0 Tweet 0
  • CBN Reopens Official FX Window to Licensed BDCs with $150,000 Weekly Purchase Cap

    0 shares
    Share 0 Tweet 0
  • Access Bank Fails to Complete Bidvest Bank Acquisition as Long-Stop Date Expires

    0 shares
    Share 0 Tweet 0
  • Nigeria Records $10.83 Billion Trade Surplus in First Nine Months of 2025 on Stronger Exports

    0 shares
    Share 0 Tweet 0
  • Investors Pocket N1.4 Trillion as Dangote Cement, Aradel and Banks Power NGX Surge

    0 shares
    Share 0 Tweet 0
RateCaptain

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>