23 May 2023

Meta fined $2 billion for breaching privacy laws

From Morning Report, 6:46 am on 23 May 2023
France, Paris, 2022-11-09, Facebook s parent company META Group, founder Mark Zuckerberg, announced on Wednesday 9 November that he was laying off 11,000 employees, Photography by Serge Tenani / Hans Lucas. France, Paris, 2022-11-09, Illustration du groupe META maison mere de Facebook, le fondateur Mark Zuckerberg a annonce mercredi 9 novembre le licenciement de 11 000 salaries, Photographie par Serge Tenani / Hans Lucas. (Photo by Serge Tenani / Hans Lucas / Hans Lucas via AFP)

Photo: Serge Tenani / Hans Lucas via AFP

Meta has been stung with a $2 billion USD fine ($2.07 billion NZD) for breaching European privacy laws.

It was found to have been illegally transferring data from Europe to the US, which caused concern that user's information could be accessed by American Intelligence.

Joining Ingrid Hipkiss is Dan Ives, the Wedbush Securities managing director.