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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2023-05-22T16:43:00
The Irish Data Protection Commission (DPC) on Monday announced a record penalty of 1.2 billion euros (U.S. $1.3 billion) against Meta regarding its transfers of user data from the European Union to the United States in violation of the General Data Protection Regulation (GDPR).
The long-awaited decision is of significant relevance to all companies engaging in transatlantic data transfers, as the ruling requires Meta Ireland to suspend any future transfer of personal data to the United States within five months. The penalty in the case is the largest under the GDPR, surpassing the yet-to-be-finalizedp €746 million (U.S. $806 million) fine assessed against Amazon by the Luxembourg data protection authority (DPA) in July 2021.
Meta, the parent company of Facebook, Instagram, and WhatsApp, said it would appeal the decision, including the fine. The company expects the issue of transatlantic data transfers will be soon addressed once the European Union and United States reach agreement on a new transfer framework.
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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.
2024-11-01T19:00:00Z By Neil Hodge
Ireland’s cozy relationship with big business and Big Tech has once again come under scrutiny after the country’s media regulator allowed a $15 million one-off funding payment from Meta’s Oversight Board Trust to help launch the newly formed Appeal Centre Europe.
2024-10-30T18:49:00Z By Jeff Dale
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.
2024-09-27T22:30:00Z By Jeff Dale
The Irish Data Protection Commission fined Meta Ireland 91 million euros (U.S. $102 million) for multiple violations of the European Union’s General Data Protection Regulation related to the inadvertent storage of user passwords without encryption.
2024-12-02T22:55:00Z By Aaron Nicodemus
In striking down penalties against cryptocurrency mixer Tornado Cash for violating U.S. sanctions, a federal appeals court may have started to chip away at anti-money laundering regulations established by Democrats even before President-elect Donald Trump takes office.
2024-11-26T19:59:00Z By Jeff Dale
The U.K. Financial Conduct Authority fined the London branch of Australian-based Macquarie Bank Limited more than 13 million pounds (U.S. $16.3 million) for “serious control failures” that allowed a trader to conceal hundreds of fictitious trades over a 20-month period.
2024-11-26T17:29:00Z By Aaron Nicodemus
French defense and aviation contractor Thales Group is under investigation by authorities in the U.K. and France for allegedly participating in bribery and corruption.
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