Speaking about the lawsuit and its $413 Million penalty, Meta said that it will soon file an appeal for both the lawsuit and its imposed fine
The European Union Lead Privacy Regulator has fined Meta with over $413 Million over the use of personal data in Facebook and Instagram target advertising. Alongside the $413 Million penalty, the EU has asked Meta to reassess its legal basis and change the ways it uses personalized data in target advertisements.
Speaking about the lawsuit and its $413 Million penalty, Meta said that it will soon file an appeal for both the lawsuit and its imposed fine.
The lawsuit and fines are imposed following the new order on personalized advertising that was created back in December 2022.
Relating to a 2018 change in Facebook and Instagram terms of service, EU said that Meta relies on taking privacy consent from its users for most of its basic operations. While these privacy content forms worked for a while, the updated laws disallows forced consent.
Losing a massive court case and receiving a $400 Million penalty will probably force Meta to rethink policies regarding its personalized advertisements and change one of the most crucial parts of its social media platforms.
Meta currently makes a large part of its revenue from advertisers on its social platforms, it then uses this advertisement money to fund its heavy investments such as those in Artificial intelligence and Augmented Reality.
Speaking about the lawsuit, Meta said that the EU privacy laws allow for a range of legal bases, thus data processing can be negotiated in a number of different ways. “We want to reassure users and businesses that they can continue to benefit from personalized advertising across the EU through Meta’s platforms” said Meta in its statement.