- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Neil Hodge2023-01-04T18:46:00
The Irish Data Protection Commission (DPC) fined Meta Ireland a total of 390 million euros (U.S. $414 million) for breaching the General Data Protection Regulation (GDPR) by forcing users to agree their personal data can be used for targeted advertising to access Facebook and Instagram.
Of the penalty total, €210 million (U.S. $223 million) relates to Facebook breaches and €180 million (U.S. $191 million) to Instagram breaches, the regulator announced Wednesday. Complaints against the platforms were lodged the day the GDPR came into force in May 2018.
Meta Ireland must also bring its data processing operations into compliance with the decision within three months. The company said it plans to appeal.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
The Irish Data Protection Commission fined Microsoft-owned LinkedIn 310 million euros (U.S. $335 million) over violations of the European Union’s General Data Protection Regulation related to the social media company’s data processing and targeted advertising.
The Norwegian Data Protection Authority is set to impose a temporary ban on Meta carrying out behavioral advertising on Facebook and Instagram using the personal information of users in the country.
Microsoft will reserve $425 million to pay a potential fine from the Irish Data Protection Commission regarding alleged violations of the General Data Protection Regulation by its social media subsidiary, LinkedIn.
Capital One promised very high interest rates on millions of savings accounts but the bank didn’t deliver, losing customers more than $2 billion, the Consumer Financial Protection Bureau alleged.
Robinhood, a disruptive force in the market for Main Street investors but also a serial offender of securities laws, will pay a total of $45 million to settle numerous violations of SEC rules and regulations by two of its broker-dealers.
A broker-dealer subsidiary of Toronto-based BMO Financial Group will pay nearly $41 million in penalties to the Securities and Exchange Commission to settle allegations that its traders issued misleading disclosures on bonds for three years, causing $19 million in harm to its customers.
