Ireland Fines TikTok $368 Million for Mishandling of User Data

Ireland’s Data Protection Commission (DPC) announced a TikTok fine of about $368 million today based on how the popular social platform processes data of younger users. DPC announced in 2021 that it was investigating TikTok’s compliance with the European Union’s General Data Protection Regulation (GDPR) privacy and security laws. The investigation identified specific problems with TikTok’s default account settings, the Family Pairing settings, and its age verification process (although the age verification model did not violate GDPR, the probe found that TikTok did not sufficiently protect the privacy of children under 13 who were able to create an account). Continue reading Ireland Fines TikTok $368 Million for Mishandling of User Data

Netflix Expands Crackdown on Password Sharing to the U.S.

Netflix introduced a password sharing option for non-household members in the United States this week. Netflix subscribers can “buy an extra member” for an additional $7.99 per month for streaming users who live outside the home. Simultaneous with the rollout, Netflix said it will start blocking unauthorized users of borrowed passwords. “Your Netflix account is for you and the people you live with — your household,” Netflix emailed its U.S. customers, providing instructions on how to “check who is using your Netflix.” The company is also making paid sharing available in additional international territories. Continue reading Netflix Expands Crackdown on Password Sharing to the U.S.

Meta Is Fined $1.3 Billion for Facebook’s EU Privacy Violation

Meta Platforms has been hit with a record $1.3 billion fine for violating European Union rules that prohibit transferring the data of EU citizens to other countries. Ireland’s Data Protection Commission, the agency of record in the region in which Meta was sued, said that the tech giant continues to operate outside of compliance with the EU’s General Data Protection Regulation (GDPR) after a 2020 ruling by the bloc’s highest court found that Facebook user data was being shipped to America without adequate protection from U.S. spy agencies. Continue reading Meta Is Fined $1.3 Billion for Facebook’s EU Privacy Violation

Regal Parent Cineworld on Path to Chapter 11 Restructuring

British cinema operator Cineworld Group, owner of Regal Cinemas, has proposed a plan to emerge from Chapter 11 bankruptcy. In what is described as a “debt-for-equity swap,” the company would reduce by some $4.53 billion the indebtedness of its principal U.S. claimants, who would be getting a stake in the company in exchange for waiving their claims. The group companies have commitments for roughly $1.94 billion in debtor financing from lenders to help ensure Cineworld operations can continue during its anticipated reorganization, which is subject to court approval. The transaction is expected to “result in very significant dilution of existing equity interests.” Continue reading Regal Parent Cineworld on Path to Chapter 11 Restructuring

UK Online Safety Bill to Exert Pressure on Social Media Execs

British legislators seem ready to make good on a threat to add criminal liability and jail time for high-level social media executives who fail to protect children from online harm as part of the Online Safety Bill. While the bill also aims to protect adults from fraud and malfeasance, its strictest provisions are geared toward child protection. The current proposal could win approval by the House of Commons within the week, and would then move to the upper chamber, the House of Lords, later in the quarter for further revision. Enactment is anticipated by year’s end.
Continue reading UK Online Safety Bill to Exert Pressure on Social Media Execs

Ireland DPC Fines Meta $275 Million for Data Privacy Breach

Meta Platforms has been fined $275 million for violating European Union privacy rules, the result of a 2021 data leak that led to the online publication of personal information belonging to 500 million Facebook users. The penalty is the latest imposed on Meta by Ireland’s Data Protection Commission, which in September imposed a $400 million penalty on Instagram for mishandling children’s data. In October 2021, the same regulator fined Meta $235 million for violations by its WhatsApp messaging service. In total, Irish authorities have imposed penalties of more than $900 million on Meta in the past two years. Continue reading Ireland DPC Fines Meta $275 Million for Data Privacy Breach

Intel Powers Up EU Chip Plans with $19 Billion German Plant

Intel unveiled plans to invest an initial $19 billion to construct new leading-edge semiconductor fab mega-sites in Magdeburg, Germany; an R&D and design hub in France; and R&D, manufacturing and foundry facilities in Ireland, Italy, Poland and Spain. The plan could see as much as $88 billion invested “along the entire semiconductor value chain” in the EU over the decade, according to the Santa Clara-based chipmaker, which says it wants to introduce a next-generation chip ecosystem while offsetting reliance on Asia for a more “resilient supply chain.” Continue reading Intel Powers Up EU Chip Plans with $19 Billion German Plant

Doc Reveals Theory Behind Facebook’s Defiance of EU Court

Facebook continues to feud with the European Union over data transfers to the U.S., which the EU’s highest court twice prohibited. “Facebook has been ignoring EU law for 8.5 years now,” says privacy advocate Max Schrems, whose 2013 complaint against Facebook prompted the Court of Justice of the European Union (CJEU) to conclude that the U.S. did not offer sufficient protection for EU data and transfers should stop. Schrems says the social giant takes “the view that the Court of Justice is wrong — and Facebook is right. It is an unbelievable ignorance of the rule of law.” Schrems has now obtained an internal Facebook document that explains the company’s justification. Continue reading Doc Reveals Theory Behind Facebook’s Defiance of EU Court

G20 Leaders Approve a Global Minimum Corporate Tax Rate

President Biden and other world leaders who gathered for the Group of 20 summit in Rome formally endorsed a new global minimum business tax Saturday in what is presented as a historic achievement after months of negotiations, according to the Organization for Economic Cooperation and Development (OECD). The new global minimum tax rate of 15 percent is intended to reverse a decades-long reduction in corporate tax rates across the world. The agreement, which was previously endorsed by finance ministers from each country and would have an impact on Big Tech, now faces the formidable task of being turned into multinational legislation. Continue reading G20 Leaders Approve a Global Minimum Corporate Tax Rate

European Union Members Are Concerned Over GDPR Delays

European Union nations are voicing discontent over delays in enforcement of the General Data Protection Regulation (GDPR) implemented in May 2018. Earlier this month Ireland announced a $266 million fine against WhatsApp, after haggling to boost the original sanction of up to $59 million by the Irish Data Protection Commission (WhatsApp parent Facebook has European headquarters in Ireland). The situation has prompted calls to revise how the 27 EU member countries participate in overlapping cases, with expanded pan-EU rules also under consideration. Continue reading European Union Members Are Concerned Over GDPR Delays

Ireland Slaps Facebook’s WhatsApp Service with GDPR Fine

In its first major ruling against social media giant Facebook, Irish authorities fined the company’s WhatsApp messaging service almost $270 million (225 million euros) under the General Data Protection Regulation (GDPR). Those authorities stated that WhatsApp was not transparent about how data collected by those using the app is shared with other Facebook properties, including Instagram. WhatsApp said it would appeal the decision. Since established three years ago, the GDPR has not resulted in any major fines or penalties for Facebook until now. Continue reading Ireland Slaps Facebook’s WhatsApp Service with GDPR Fine

U.S. Brokers Global Minimum Tax with Support of 130 Nations

U.S. Treasury Secretary Janet Yellen revealed that 130 nations have agreed to a global minimum tax (GMT) on corporations as part of a larger agreement to update international tax rules. The Biden administration has urged that the rate be at least 15 percent, but Yellen has yet to announce an agreed-upon rate. The agreement — intended to end the practice of global corporations moving their headquarters to low-tax international jurisdictions — is a “key element” of Biden’s domestic plans for revenue and spending. Continue reading U.S. Brokers Global Minimum Tax with Support of 130 Nations

Facebook Is Rebuffed in Bid to Block Irish High Court Ruling

Ireland’s High Court dismissed Facebook’s procedural efforts to block a draft decision of the country’s Data Protection Commission to suspend its data flow between the European Union and the United States. The European Union decision was intended to protect the privacy of European users, whose data was being sent to U.S. computer servers, and Facebook contended that the Data Protection Commission, which issued its preliminary decision in August, gave it too little time to respond. The court originally stayed the decision in September. Continue reading Facebook Is Rebuffed in Bid to Block Irish High Court Ruling

Amazon Wins Appeal Against European Commission Decision

A European Union court struck down a 2017 European Commission decision ordering Amazon to pay $300 million (250 million Euros) in taxes, saying that regulators failed to prove the company had an illegal advantage and that its analysis was “incorrect in several respects.” The Commission’s executive vice president Margrethe Vestager has spearheaded a campaign against several Big Tech companies, including Apple and Google. It was her second recent defeat after the General Court overturned a 2016 decision against Apple. Continue reading Amazon Wins Appeal Against European Commission Decision

Ireland Fines Twitter for Privacy Breach in a First for U.S. Tech

Ireland’s Data Protection Commission fined Twitter €450,000 (about $546,000) for failing to notify the regulator or document a data breach within 72 hours. The breach, revealed in January 2019, exposed some Android users’ private tweets for over four years. Twitter chief privacy officer Damien Kieran said the company takes responsibility … and remains “fully committed to protecting the privacy and data of [its] customers.” This is the first time a U.S. tech company has been served with a GDPR fine in a cross-border case. Continue reading Ireland Fines Twitter for Privacy Breach in a First for U.S. Tech