“Meta simply cannot blackmail the EU into waiving its data protection standards,” lawmaker Axel Voss responded at the time. “Leaving the EU would be their loss.”
This fine surpasses the previous record of the European Union, which was 746 million euros imposed on the giant of electronic commerce, Amazon, for similar privacy violations.
Meta will appeal the determination
After the fine was unveiled, the company’s president of global affairs, Nick Clegg, and legal director, Jeniffer Newstead, said they will appeal the decision and seek a stay in court, “given the harm you are doing.” these orders would cause even the millions of people who use Facebook every day.”
Although the company was ordered to stop the transfer of data, there are a number of elements that benefit the social media company. One is that the ruling only applies to Facebook data and not to other platforms, such as Instagram or WhatsApp.
It will also have a five-month period before stopping future transfers and a six-month deadline to stop storing data in the United States and lastly, the EU and the US are negotiating a new agreement that could start its operation in the summer.