News: Meta to face record EU privacy fine over Facebook data transfer to US

According to sources familiar with the matter, Meta Platforms Inc (formerly Facebook) is facing a substantial fine from the European Union (EU) for privacy violations related to the transfer of EU user data to U.S. servers. The fine is expected to surpass the previous record penalty of 746 million euros imposed on Amazon.com Inc. The EU regulators, led by Ireland's Data Protection Commissioner Helen Dixon, have been working on a ban of the legal tool used by Facebook to transfer European user data due to concerns about access by U.S. intelligence agencies.

In April, the Irish DPC was given a deadline to issue an order blocking Facebook's transatlantic data flows, and the ban could be implemented by mid-May. The decision follows a 2020 ruling by the EU's highest court that invalidated an EU-U.S. data transfer agreement due to surveillance concerns. Last year, Meta warned that a ban on the data transfer mechanism could result in the suspension of Facebook services in Europe.