May 212023
 May 21, 2023  Posted by  Business, Featured News

Dan Milmo reports:

Facebook is to be fined more than €746m (£648m) and ordered to suspend data transfers to the US as an Irish regulator prepares to punish the social media network for its handling of user information.

The fine, first reported by Bloomberg and expected to be confirmed as soon as Monday, will set a record for a breach of the EU’s general data protection regulation (GDPR), beating the €746m levied on Amazon by Luxembourg in 2021.

The decision by Ireland’s Data Protection Commission, which is the lead privacy regulator for Facebook and its owner Meta across the EU, is also expected to pause transfers of data from Facebook’s European users to the US.

Read more at The Guardian.

The 746 million euros converts to $806,985,500.00

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