According to multiple reports, Facebook is expected to face a record privacy fine next week when European privacy regulators rule that the social media giant mishandled user data when transferring it to the US. The fine is expected to be even larger than the previous record $821 million levied against Amazon for a similar charge.
This issue dates back to 2013, when American whistleblower Edward Snowden revealed that US intelligence agencies accessed Europeans’ Facebook data when it was transferred overseas. Now, European regulators are expected to demand Facebook stop this practice. Meanwhile, American lawmakers have worked to ensure European Facebook users have their data better protected. This move also comes as the EU is requiring Facebook to crack down on harmful content by the end of the summer.
“These… very large online platforms and search engines will have to redesign completely their systems to ensure a high level of privacy, security and safety of minors with age verification and parental control tools,” an EU regulator said.
When taken together, Facebook’s entire business model of monetizing user data is under attack in Europe. And while the company has fought this tooth and nail, it seems like real change is coming soon.
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