1. Meta, the parent company of Facebook, has been fined €1.2 billion ($1.3 billion) for failing to comply with European Union privacy policies.
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The Irish Data Protection Commission imposed the fine, stating that Meta violated the terms of the General Data Protection Regulations (GDPR).
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The GDPR is a set of rules for safeguarding customer privacy in the European Union.
This fine represents the largest ever imposed under GDPR, which has been in effect since May 2018.
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Regulators found that Meta's data transfers between the United States and the European Union did not comply with "standard contractual clauses" established since July 2020.
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The European Data Protection Board Chair, Andrea Jelinek, emphasized that the significant fine sends a strong message about the consequences of serious infringements.
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Meta, as Facebook's parent company, will face financial repercussions as a result of the violation.
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The fine highlights the importance of adhering to privacy regulations and protecting customer data.
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Data protection authorities in the European Union are actively enforcing GDPR to ensure compliance from companies.
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This case demonstrates the ongoing challenges and consequences companies face when handling data transfers across international borders.