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

Nigerian Breweries Attributes 135% Share Price Surge to Successful Recovery Strategy

Champion Breweries Fully Redeems N15 Billion Commercial Paper Issuance

Showmax’s Costly Gamble: Platform loses $2.50 for Every $1 Earned in Revenue

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

Nigerian Breweries Reports Record N145 Billion Naira Loss in 2023

Nigerian Breweries Attributes 135% Share Price Surge to Successful Recovery Strategy

by Jide Omodele
April 17, 2026
0

Nigerian Breweries Plc has linked its remarkable 135% share price appreciation over the past year to the successful execution of...

Nigerian Breweries Plc Appoints Ayodele Lawal as Sales Director.

Champion Breweries Fully Redeems N15 Billion Commercial Paper Issuance

by Akpan Edidong
April 10, 2026
0

Champion Breweries Plc has successfully completed the redemption of its N15 billion inaugural Commercial Paper programme, marking the full repayment...

Showmax’s Costly Gamble: Platform loses $2.50 for Every $1 Earned in Revenue

Showmax’s Costly Gamble: Platform loses $2.50 for Every $1 Earned in Revenue

by Stephen Akudike
March 10, 2026
0

Showmax, once positioned as Africa's homegrown challenger to global streaming giants like Netflix, has become a stark case study in...

FCMB Group Plc Reports Remarkable 108% Year-on-Year Profit Growth in 9M 2023

FCMB Group Completes N500bn Recapitalisation, Secures International Banking Licence

by Stephen Akudike
March 10, 2026
0

FCMB Group Plc has successfully met the Central Bank of Nigeria's (CBN) revised minimum capital requirement of N500 billion for...

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

Nigerian Breweries Reports Record N145 Billion Naira Loss in 2023

Nigerian Breweries Attributes 135% Share Price Surge to Successful Recovery Strategy

April 17, 2026
Nigeria Rules Out IMF Loans Despite Rising Debt Concerns – Wale Edun

Nigeria Rules Out IMF Loans Despite Rising Debt Concerns – Wale Edun

April 17, 2026

Popular Story

  • Kenyan President William Ruto Urges African Nations to Move Away from US Dollar for Intra-African Trade.

    Kenyan President William Ruto Urges African Nations to Move Away from US Dollar for Intra-African Trade.

    0 shares
    Share 0 Tweet 0
  • FG Introduces Green Tax on High-Engine Vehicles from July 1 to Promote Cleaner Transport

    0 shares
    Share 0 Tweet 0
  • IMF Refuses to Endorse External or Domestic Borrowing for Nigeria.

    0 shares
    Share 0 Tweet 0
  • Nigeria Rules Out IMF Loans Despite Rising Debt Concerns – Wale Edun

    0 shares
    Share 0 Tweet 0
  • Nigerian Breweries Attributes 135% Share Price Surge to Successful Recovery Strategy

    0 shares
    Share 0 Tweet 0

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}
?>