thenewscrypto.com
- Metahas poured a lot of resources into developing its Metaverse platform.
- The tech giant said that it will be reviewing the penalty decision.
Meta was fined by Irish data protection authorities for how it handled client information. The investigation that resulted in the €265 million fine (Approx $277) was conducted by the Irish Data Protection Commission.
An examination of the online dissemination of sensitive information on 500 million Facebook and Instagram users was at the heart of the inquiry. It follows recent events at Meta including widespread layoffs and other efforts to reduce costs. The tech giant has poured a lot of resources into developing its Metaverse platform.
Meta to Review Penalty Decision
The Commission reportedly announced the end of an investigation into the breach of customer data on Monday, as reported by the Financial Times. It was revealed that the investigation was centered on a contact importer that helps users locate known individuals.
The service in question is one that allows users to integrate their phone’s contact list into Facebook or Instagram. In order to easily locate friends and acquaintances. The sanctions are a part of the EU’s larger effort to implement the General Data Protection Regulation, a rule that was widely heralded as a worldwide benchmark for online privacy when it went into effect four years ago.
In response to the regulatory agency’s decision to issue a penalty, Meta said that it will be reviewing the penalty decision.
The Russian government had recently designated Meta as an extremist group. Then, a Russian court ruled that the IT firm had links to extremist activities. Now even the Ministry of Justice of the nation has designated Meta as an extremist group a few days back.