Record Meta fine brings wider GDPR ramifications for EU-U.S. data transfers
Meta’s latest punishment for breaching the European Union’s General Data Protection Regulation (GDPR) will have far-reaching ramifications for companies both in Europe and beyond.
Primarily, the financial penalty of 1.2 billion euros (U.S. $1.3 billion) shows EU data protection authorities believe large fines—this case marking a record in the GDPR’s five-year history—can be both punitive and dissuasive.
“The fine is a stark reminder to large multinational organizations of their duties under European data protection law,” said Simon Ridding, senior associate at law firm Keller Postman. “The hefty fine signals to other large corporations to put their own houses in order or face crippling penalties.”