Facebook Slammed with another fine of $122 million for providing misleading information in regards to data sharing while their acquisition of WhatsApp, an internet messaging services. The Antitrust Chief of the EU found that the company has submitted misleading statements during their hostile takeover of WhatsApp which was acquired for $19 billion in 2014. All the countries that are part of the EU have very strict data protection policy and the Dutch and the French regulatory bodies have been closing monitoring the statements and they formally concluded that Facebook has broken the data sharing policy rules on Thursday.
This is one of the biggest penalties against the technology giant company. The European Union’s antitrust chief, Margrethe Vestager informed on Thursday that the company ensured that they won’t be combining the customer data of WhatsApp which is more than one billion with their parent company, Facebook. But later last year, Facebook not only combined the data but also announced that they would be sharing it with other companies. By doing this, Facebook received an edge over their competitors and enhanced their advertising business in a short span of time.
Facebook’s version of justifying their actions is completely different then the EU antitrust agency.
The commission had a proper discussion and analysis before imposing the fine and stated that the take-over should consider the competition perspective in mind before sharing any statement and completing the merger with WhatsApp. But Facebook claims that the errors related to the report submitted in 2014 were not intentional and they have always executed their activities in good faith of the EU. This clearly proves that the EU is very skeptical and watchful about all the activities carried out by this internet giant company in their countries.
American Giants think that the EU has a biased view against them.
Previously many American technical and internet giant companies like Microsoft, Google, and Amazon have been fined by the antitrust regulatory bodies of the EU for not being competitive and not complying with the regulatory policies. The French authorities have fined Facebook for €150,000 since they didn’t give sufficient control to their customers in their country regarding their data privacy and didn’t inform them about the sharing policy. Even Dutch has a similar complaint against Facebook but has not dined them with any charges yet.
Facebook is a very big giant player in the internet business and has grown exceedingly well over the period of time across the globe. But this fines and restrictions in the EU are going to have an impact on their overall business activities across the globe.
Daniel is acting editor of Talk Herald with over two years of experience in the field of online news under his belt. Daniel has worked with multiple media houses and is currently leading a team of journalists, sub-editors, and writers through his entrepreneurial endeavors.
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