Meta was slammed on Monday with a fine of €1.2 billion, equivalent to $1.3 billion, and was ordered to cease transferring user data to the United States over privacy concerns.
The decision, revealed by the Data Protection Commission of Ireland, marks the largest penalty since the European Union created the restrictive General Data Protection Regulation five years ago. Authorities said that Facebook, the flagship social media network owned by Meta, breached a statute that mandates certain safeguards for international data transfers.
Meta was provided with a grace period of five months to implement the suspension, according to the decision, which was adopted by the European Data Protection Board last month.
Executives from the firm issued a statement on Monday contending that American and European regulators must resolve the
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