The EDPB issued an urgent binding decision that essentially bans Meta from using personal data for behavioral advertising in the entire European Economic Area (EEA).

  • TheFeatureCreature@lemmy.world
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    1 year ago

    She also highlighted that Meta has not shown compliance with the orders set by Ireland’s Data Protection Act (IE DPA) last year.

    Because getting caught and fined a couple million isn’t even a minor business expense to these companies. Stop acting surprised when they don’t follow your rules when you fine them 0.007% of their yearly profits.

    Like,

    Despite this, Facebook and Instagram remained operational in Norway, where EU data protection laws prohibit such advertising practices. The platforms faced a daily fine of one million Norwegian kroner (around €89,000).

    Their bean counters probably laughed out loud when they were told about this, and I wouldn’t blame them. This is a joke. They probably spend more on toilet paper for their office workers. Meta has nearly 200 BILLION (with a B!) in assets. Treat them like it.

    • Poggervania@kbin.social
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      1 year ago

      I always thought it would be a good idea to fine publicly traded corporations a percentage of their market cap + 10%, going up to maximum of 100% market cap + 10%.

      If Meta is worth $817B USD, then we should treat them like it.

      • Kissaki@feddit.de
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        1 year ago

        GDPR:

        These types of infringements could result in a fine of up to €20 million, or 4% of the firm’s worldwide annual revenue from the preceding financial year, whichever amount is higher.

        4% can be a lot in absolute numbers for these massive corporations. But it’s such a low percentage that it could indeed be included in operational cost and then be ignored.

        • Poggervania@kbin.social
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          1 year ago

          Oh man that sounds juicy 🤤

          Only change I’d argue for is to go off market cap instead of annual worldwide revenue though because you can say some insanely small amount on paper like 4%, but then that same 4% turns from ~$5B USD with annual revenue to ~$33B USD with market cap. But because we’d also want to actually deter businesses from breaking it and considering it a cost of business, I would think something like a fine of 110% of market cap value would be a huge deterrence.