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Facebook fined 150,000 euros by French data watchdog

Posted on May 16th, 2017 at 22:26 by John Sinteur in category: News

[Quote:]

Facebook (FB.O) has been fined 150,000 euros ($166,000) by France’s data protection watchdog for failing to prevent its users’ data being accessed by advertisers.

Watchdog CNIL said its fine – which was imposed on both Facebook Inc and Facebook Ireland – was part of a wider European investigation also being carried out in Belgium, the Netherlands, Spain and Germany into some of Facebook’s practices.

The 150,000 euro fine is small in the context of the company, which has quarterly revenue of about $8 billion and a stock market capitalization which stands at around $435 billion. But it is the maximum amount the CNIL could fine when it started the investigation on the tech giant.

The CNIL can now issue fines of up to 3 million euros, after the passing of a new law in October 2016.

Which will go up to “20 million or 4% of world wide revenue” when new pan-european rules go into effect shortly. And they’re even stricter than French rules.

“We take note of the CNIL’s decision with which we respectfully disagree,” Facebook said in a statement emailed to Reuters.

And my guess is that you’ll just as respectfully start actually following the rules the first time you get threatened with the new penalties.


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