{"id":10462,"date":"2023-05-18T12:21:30","date_gmt":"2023-05-18T16:21:30","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/meta-likely-to-face-record-eu-fine-report\/"},"modified":"2023-05-18T12:21:30","modified_gmt":"2023-05-18T16:21:30","slug":"meta-likely-to-face-record-eu-fine-report","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=10462","title":{"rendered":"Meta likely to face record EU fine: report"},"content":{"rendered":"
\n

Facebook owner Meta Platforms Inc.
\n META,
\n -0.06%<\/bg-quote>
\n is bracing for a record privacy fine from the European Union for failing to comply with a court warning intended to protecting consumers\u2019 data from U.S. security services once it\u2019s shipped to servers across the Atlantic. The Irish Data Protection Commission, which oversees the EU operations of most Silicon Valley firms, is also expected to order Meta to cease all data transfers to the U.S. that rely on supposedly unsafe contractual clauses questioned by the bloc\u2019s top court, according to a Bloomberg report on Wednesday, citing people close to the matter. Meta\u2019s fine is likely to eclipse the record \u20ac746 million ($807 million) fine for Amazon.com Inc.
\n AMZN,
\n +1.32%<\/bg-quote>,<\/span>
\n according to the report. Meta declined comment.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Facebook owner Meta Platforms Inc. META, -0.06% is bracing for a record privacy fine from the European Union for failing to comply with a court warning intended to protecting consumers\u2019 data from U.S. security services once it\u2019s shipped to servers across the Atlantic. The Irish Data Protection Commission, which oversees the EU operations of most […]<\/p>\n","protected":false},"author":1,"featured_media":1383,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-10462","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nMeta likely to face record EU fine: report | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Facebook owner Meta Platforms Inc. 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