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Big Tech Companies Delay Payment of Fines for Years

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Big Tech,Fines,Payment

Big tech companies, including X (formerly Twitter), have not paid the fines imposed on them for various violations, such as price fixing and misusing data. The delay in payment can take years, with fines amounting to billions of euros. Australia recently confirmed that X has not paid a fine for failing to address content depicting child sexual abuse.

Rarely a month goes by without big tech companies getting fined for price fixing, squashing competitors or misusing data, but it can take years before they pay a penny. X (formerly Twitter) has not paid any of the two billion euro (US$2.2 billion) in fines issued since last September. TikTok also owes hundreds of millions. Amazon is still appealing against a 746 million euro fine from 2021, Luxembourg's data regulator told AFP.

Google is still disputing EU fines worth more than eight billion euros for abusing its market position between 2017 and 2019. Apple has fought for years against a French antitrust fine of 1.1 billion euros and an order to pay 13 billion euros of tax to Ireland. This week Australia confirmed that X (formerly Twitter) had not paid a fine imposed for failing to outline its plans to stamp out content depicting child sexual abuse - though X is now counter-suing

 

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European Commission confirms requests to big tech companies on harmful contentLONDON: The European Commission said on Thursday (Oct 26) that it had not launched formal investigations into efforts by Meta, TikTok and X to remove harmful content from their platforms, confirming it had so far sent them requests for information.
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