The European Union has slapped Meta with a record $1.3 billion privacy fine and ordered it to stop transferring users’ personal information to the United States by October.
An agreement covering EU-U.S. data transfers known as the Privacy Shield was struck down in 2020 by the EU's top court, which said it didn’t do enough to protect residents from the U.S. government's electronic prying. Monday's decision confirmed that another tool to govern data transfers — stock legal contracts — was also invalid.
The Ireland’s Data Protection Commission handed down the fine as Meta’s lead privacy regulator in the 27-nation bloc because the Silicon Valley tech giant’s European headquarters is based in Dublin. Schrems predicted that Meta has “no real chance” of getting the decision materially overturned. And a new privacy pact might not mean the end of Meta's troubles, because there's a good chance it could be tossed out by the EU's top court, he said.
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