Facebook parent company Meta has been slapped with a fine of €17 million or $19m by the Irish data watchdog. And the reason for the penalty issuance is that the company failed to maintain certain security standards while protecting the information of EU public.
As Meta failed to comply with the latest GDPR rules of storing and processing user data, it has been slapped with the said penalty for which it could raise an objection within the next 45 calendar days.
Data Protection Commissioner (DPC) has spelled the penalty based on the past twelve data breaches that occurred in 16 months and are mostly related to Facebook users.
Two European Authorities supporting the inquiry have raised an objection against the decision and might agree on further engagement of DPC.
Mark Zuckerberg’s led company has faced such penalties on many previous occasions and its legal cell has a vast amount of experience in amicably dealing with such harsh financial penalties.
Facebook has always been committed to EU data protection laws and has disclosed much number of times that it offers total transparency, control and accountability on data generated by its users.
Note- General Data Protection Regulation (GDPR) that came into effect in May 2018 offers strict guidelines to companies to store and process data in its region. And the law applies to firms regardless of where they are located.
