Key Points
Meta Platforms Inc is set to face a record European Union privacy fine related to data transfer of Facebooks EU users to U.S. servers for failing to comply with a warning by a top EU court, two sources familiar with the matter said...
The penalty will be higher than the previous record 746 million euros ($821.20 million) fine for Amazon.com.
EU regulators led by Irelands Data Protection Commissioner Helen Dixon have been finalising a ban on the legal tool used by Facebook to transfer European user data because of concerns U.S. intelligence agencies could access the information...
Meta last year warned that an order to ban the mechanism it uses to transfer data from Europe to the United States could force it to suspend Facebook services in Europe...
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