Meta fined over $400m for EU advertising breaches

Meta was recently fined $400 million for problems with advertising to citizens of the European Union.

The long-running legal saga between Meta, the EU and Ireland came to a spectacular end today, with Ireland fining Meta of approximately $414 million. according to reportsMeta was accused of allegedly illegally coercing its customers to follow certain targeted, personalized ads.

A breakdown of the fines indicates that Meta will pay $223 million in fines for violations involving Facebook and $191 million for violations involving Instagram.

In November, the Irish Data Protection Commission Meta fined €265 million For target scraping. The allegations date back to 2018, when complaints were made that Meta had not followed the rules General Data Protection Regulation (GDPR) Rules.

The accusers argue that Meta’s terms of service were so complex that users had insufficient clarity about what was happening to their data. GDPR rules stipulate that businesses should not hold any personal information of citizens without their permission.

Massive fines could be an indicator of future bans on targeted advertising. However, this decision may force Meta to change its advertising policy, especially in the European Union.

The recent conclusion between the parties involved means that Meta must now remove the data consent requirement from its terms of use. However, Meta already plans to appeal the decision, noting that their two social networks are inherently personalized.

The company Meta has made rapid strides in the Web3 landscape in recent times. Starting with the launch of their failed stablecoin Libra, Facebook re-branded itself Meta later in 2021.

However, even his metaverse quest has failed miserably since its inception. There was heavy criticism when the company rebranded Meta, with many feeling that the idea was absurd.

Twitter account of the daily show Posted that no one asked for facebook upgrade.

In another criticism, Alexandria Ocasio-Corteztweeted;

‘Meta as in “We are a cancer to democracy that has metastasized into a global surveillance and propaganda machine promoting authoritarian regimes and destroying civil society…for profit!”‘

Alexandria Ocasio-Cortez, US House of Representatives.

However, despite the disappointment and backlash, the company’s CEO Mark Zuckerberg is still maintains its metaverse ambitions,

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