Breaking: Meta Fined €265 Million Over Data Handling In Ireland

Meta Ireland Fine: Irish privacy regulators have been penalized Meta over its handling of customer data. The €265 million fine pertains to a probe by the Irish Data Protection Commission. The investigation was centered around how the personal information of 500 million Facebook and Instagram users were posted online. This comes after recent developments at Meta surrounding cost cutting measures and mass layoffs. The Mark Zuckerberg company had invested heavily in its Metaverse project.

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Meta Faces Fine In Ireland

According to a Financial Times report, the Commission had on Monday announced the conclusion of a probe launched in April 2020 on the leak of user data. The probe was focused around a tool that helps consumers find friends and people they know by importing contacts, it added. Responding to the regulator’s decision to impose fine, Meta responded saying it was reviewing the penalty decision.

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Recently, the Russian authorities included Meta to its list of extremist organizations. This was followed by a Russian court ruling that the technology company was involved in extremist activities. The country’s justice ministry had in November 2022 added Meta to the list of extremist organizations.

Meanwhile, speculation is around that Zuckerberg could step down from the role of Meta chief executive officer some time in 2023. The talk around change of guard at Meta comes following the decline in the company’s profits. While announcing the huge layoffs recently, the CEO said the company’s post Covid investment strategy did not yield results on the expected lines.

Metaverse – Word Of The Year 2022

Recently, the Oxford University Press included the word ‘Metaverse’ in the list of top 3 nominees for word of the year 2022. It described Metaverse as a “virtual reality environment in which users interact with one another’s avatars.”

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