Friday, June 9, 2023

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    EU regulators fine Meta $1.3 billion, but some say potential data losses could be even harsher

    The size of Meta’s new record-breaking privacy fine in Europe is making observers wide-eyed both on both sides of the Atlantic, but some experts say the latest ruling’s impact on the giant’s data business is even more important to watch.

    On Monday, Ireland’s Data Protection Commission announced a $1.3 billion fine against Meta for breaching privacy protection laws related to data transfers between Europe and the U.S. However, the decision also requires Meta to pause all data transfers between the EU and U.S. within five months and make changes within six months or be forced to delete a decade’s worth of EU user data — both of which might be more monumental to Meta than even the record-breaking fine itself.

    The new ruling doesn’t focus directly on Meta’s massive ads business, but applies to various types of European user data including contacts, photos, messages and various activities on Facebook and integrated third-party websites or apps.

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