European watchdog fines Meta $276M after data ‘scraped’ from Facebook leaked online

Tigress Financial Partners CIO and director of research Ivan Feinseth provides insight on the technology sector on 'Making Money.'with a fine of 265 million euros, or more than $276 million, as punishment after data on more than half a billion users was "scraped" and leaked online.

Ireland’s Data Protection Commission said Meta Platforms failed to protect users’ date, violating sections of the EU’s strictThe investigation was opened last year following reports that data on more than 533 million users, including names, Facebook IDs, phone numbers, locations, birth dates, and email addresses for people from more than 100 countries was found dumped online.

The data, which was found on a website for hackers, had been "scraped" from Facebook by using tools designed to help people find their friends through phone numbers using search and contact import features, Meta said. The Irish watchdog has previously fined Meta-owned Instagram and Whatsapp for violating data protection for users.

Honestly, this company could write the book on how Not to handle data. They don't have to care since the fines are never so big as to be an existential threat.

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Facebook Parent Meta Fined $276 Million in Europe for Data-Scraping LeakThe fine issued by Ireland’s Data Protection Commission, Meta’s main privacy regulator in the European Union, is the latest sign of how authorities in the region are becoming more aggressive in applying the bloc’s privacy law to big technology companies. Europe is coming for Meta. First, England forcing them to divest from GIPHY and now this. If US regulators won’t do anything, I guess Europe is going to pick up the slack. Certainly Elon is fully GDPR compliant? Hapless users lost their privacy & regulator scrapes a lump sum from Facebook. It's not like they're going to shuffle all users' phone numbers for free & disburse money for the inconvenience. Or will they?
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Irish regulators fine Meta 265M euros in latest privacy caseIrish regulators slapped Facebook parent Meta with a 265 million-euro ($277 million) fine Monday, the company's latest punishment for breaching strict European Union data privacy rules. Or, Meta just paid $277mil for a bunch of European citizens data…
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