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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Neil Hodge2022-09-06T19:30:00
Instagram is set to be fined 405 million euros (U.S. $401 million) by Ireland’s data protection regulator for failing to adequately secure teenage users’ data in line with the General Data Protection Regulation (GDPR).
The penalty will be the largest to date handed down by the Irish Data Protection Commission (DPC), the primary European data regulator for the social media giant. It is the third fine in the past year against a subsidiary of Meta, following sanctions of €17 million (then-U.S. $18.6 million) in March against Meta Ireland (formerly Facebook Ireland) and €225 million (then-U.S. $267 million) in September 2021 against WhatsApp.
In an emailed statement, a spokesperson for the Irish DPC confirmed it adopted its final decision Friday regarding the Instagram fine. Full details in the case are expected to be published next week.
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News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
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Membership $599
One-year only, no auto-renewal.
2023-02-16T21:00:00Z By Neil Hodge
Italy’s data protection authority banned U.S.-based AI chatbot creator Replika from processing the personal data of Italian users because of risks the service posed to minors and vulnerable people—the latest example of a tech company’s product running afoul of the GDPR.
2022-11-28T20:32:00Z By Neil Hodge
Meta Platforms Ireland was fined €265 million (U.S. $274 million) for failing to put in place adequate measures to protect users’ data after a leak compromised the personal details of more than half a billion individuals.
2022-11-22T18:09:00Z By Aaron Nicodemus
A privacy and human rights advocate sued Meta Platforms in the United Kingdom, claiming the social media giant is refusing her request to stop being targeted with advertising based on her use of Facebook.
2024-11-20T18:15:00Z By Aaron Nicodemus
A bank examiner and senior manager at the Federal Reserve Bank of Richmond pled guilty to insider trading after allegedly misappropriating confidential information on seven banks to make profitable trades.
2024-11-19T21:05:00Z
New York-based investment firm Drexel Hamilton will pay more than $1.1 million in penalties, with four current and former employees paying fines as well over committing hundreds of violations of rules regarding the sale of municipal bonds.
2024-11-19T19:26:00Z By Aaron Nicodemus
A publicly traded cryptocurrency mining company will pay $10 million and completely change its business model to one with “lower corruption risk” as part of a settlement over violations of the Foreign Corrupt Practices Act (FCPA), two regulators announced.
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