Meta fined $276 million by Ireland's privacy watchdog over leaked user data
Meta
The Irish Data Protection Commission has imposed a $276 million fine on Meta over its handling ofsensitive user data. In the aftermath of the latest announcements, the parent company of social media platforms Facebook and Instagram will have to pay fines of over $1 billion to the European regulators. Ireland’s privacy watchdog also said that this marks the end of their inquiry which started in April this year after details of over 500 million users were leaked and published online.
Meta has been the subject of a lot of controversy in Europe lately with multiple accusations of mishandling user data and various groups raising privacy concerns regarding the platforms.
In 2019, 533 million users had their data leaked on a private website which included their names, locations and in some cases, email accounts. While the company said that the leak was taken care of, the enquiry was launched by the authorities, and they have been facing a list of fines.
The implementation of General Data Protection Regulation, a European Union-wide law is being considered to be the standard which will be followed for online privacy globally. The fines were a part of the process, and this increased the pressure on Meta – a company facing substantial losses.
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In the past one year, Meta has seen a steady dip in revenues with the failure of the Metaverse and it has also sparked rumours of Mark Zuckerberg leaving the company as CEO. The company decided to fire more than 11,000 staff members and said that it will be announcing more job cuts in the future.
(With inputs from agencies)