Facebook Parent Company Fined $414 million by EU for Targeted Ads

Meta, the parent company to Instagram and Facebook, was hit with a $414 Million fine by the European Union After being found to have violated privacy laws through its use of targeted advertising, the company was notified on Wednesday.

The authority responsible for protecting EU citizens’ data, Ireland’s Data Protection Commission (DPC), found the social media giant in violation of the General Data Protection Regulation (GDPR)The privacy law, Article 8 of 2018’s Charter of Fundamental Rights of Union, was adopted.

Meta was accused by EU regulators of violating the GDPR law. They used users’ personal data to target advertising. New York Post. Meta stated that when users agree with their platforms’ terms and conditions, they are deemed to have accepted them. “contracts,” They are legally allowed to access their data. DPC discovered that Instagram and Facebook users had gotten their data. “insufficient clarity as to what processing operations were being carried out on their personal data.”

DPC demanded that tech giants tighten their data collection practices in order to comply with GDPR policies within three months.

Meta, co-founded in part by Mark Zuckerberg, issued a statement refuting the EU’s claims.

“The debate around legal bases has been ongoing for some time and businesses have faced a lack of regulatory certainty in this area. We strongly believe our approach respects GDPR, and we’re therefore disappointed by these decisions and intend to appeal both the substance of the rulings and the fines.”

Facebook, the parent company of Facebook, also claimed that European regulators did not provide enough “clarity” information on how to remain in compliance and the added that it would be “highly unusual for a social media service not to be tailored to the individual user.”

“Facebook and Instagram are inherently personalized, and we believe that providing each user with their own unique experience – including the ads they see – is a necessary and essential part of that service,” The company disagreed.

According to the New York TimesMeta generated $118 billion in ad revenue alone in 2021.

The Irish Commission has eleven other open inquiries regarding Meta’s EU operations, and has imposed other fines amounting to more than $1.37 billion.

Two months later, the newest list of fines is available Zuckerberg apologized for sweeping layoffAfter he had been promoted to s in this company, he slashed 13 percent of the workforceApproximately 11,000 people.