• Contact Us
  • About
  • Advertise
  • Privacy & Policy
Friday, June 12, 2026
  • Login
E3P Motor Insurance
  • Home
  • Insurance
  • Pension
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
  • Home
  • Insurance
  • Pension
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
No Result
View All Result
Business Post
No Result
View All Result
Home Business Unlimited

Meta fined €1.2bn for breach of EU data rules

Staff Reporter by Staff Reporter
May 23, 2023
in Business Unlimited
0 0
0
Mobile App Appeal A Long Haul That Defies Immediate Returns
0
SHARES
65
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

Facebook owner Meta has been fined €1.2bn (£1bn) for mishandling data when transferring it between Europe and the US. The Ireland-based Data Protection Commission found that the company’s actions effectively breached GDPR regulations.

The punishment follows a legal challenge brought by Max Schrems, an Austrian privacy campaigner, over concerns that European Facebook users’ data is not sufficiently protected from US intelligence agencies when it is transferred to the US.

The DPC ruling gives Meta six months to stop “the unlawful processing, including storage in the US” of personal data from the EU already transferred. The measure does not affect data transfers at Meta’s other key platforms, Instagram and WhatsApp.

Meta plans to appeal. In a blog post, Nick Clegg, Meta’s president of global affairs and Jennifer Newstead, Meta’s chief legal officer, said: “This decision is flawed, unjustified, and sets a dangerous precedent for the countless other companies transferring data between the EU and US.” They said such a ruling risked carving the internet up into national and regional silos.

Tim Bowes, associate director at the consultancy Dufrain, said: “In a fitting lead up to the anniversary of GDPR, this record-breaking fine for Meta should signal to all companies that no-one is immune from regulatory scrutiny. It’s simply not enough for companies to consider themselves compliant where they are headquartered – the transfer of data to regions with different privacy laws needs due consideration and pleading ignorance or blaming how data is stored or used won’t fly.

“Aside from legal measures such as implementing standard contractual clauses, practical measures companies can take to avoid non-compliance include completing a stringent data audit to identify what personal data is collected, where it is stored and how it is used. It is equally vital that appropriate security measures such as encryption and regular audits take place to ensure ongoing compliance. Companies also need to make sure they have clear and transparent processes in place for obtaining valid consent from individuals for the collection and use of their personal data.”

Source: cirmagazine.com
Previous Post

Image Spin: NEM Insurance AGM

Next Post

Leadway Ignites children’s Reading Culture Through “Pages to Places” Initiative

Staff Reporter

Staff Reporter

Related Posts

FIFA 2026, Fetches World Economy $41bn
Business Unlimited

FIFA 2026, Fetches World Economy $41bn

June 11, 2026
Access Holdings Affirms Long-Term Value Strategy, Lands N1tr PBT, Assets Hit N56.5tr
Business Unlimited

Access Holdings Affirms Long-Term Value Strategy, Lands N1tr PBT, Assets Hit N56.5tr

June 11, 2026
BUA Foods Celebrates Financial Times Recognition of its Resilience and Global Relevance of Nigerian Manufacturing  
Business Unlimited

BUA Foods Celebrates Financial Times Recognition of its Resilience and Global Relevance of Nigerian Manufacturing  

May 22, 2026
Next Post
Leadway Ignites children’s Reading Culture Through “Pages to Places”  Initiative

Leadway Ignites children's Reading Culture Through "Pages to Places" Initiative

Please login to join discussion
NEM INSURANCE NEM INSURANCE NEM INSURANCE
  • Trending
  • Comments
  • Latest
Loss Adjusters Receive Charge To Match Speed Of New Developments

Loss Adjusters Receive Charge To Match Speed Of New Developments

April 27, 2024
NCRIB And Universal In Pictures

NCRIB And Universal In Pictures

May 4, 2024
tope smart NIA former chairman

Insurance Milestone: A Beacon To Follow

April 3, 2022
Custodian Investment To Acquire 51% Stake In UACN Property

Penetration: Operators Call For Insurance-In-Action

November 2, 2022
ncrib logo

NCRIB Sets The Stage For Adaramola’s Tenure

June 7, 2023
Buyer Power Grows Ahead of 2026 Reinsurance Renewals

Reinsurance Rates May Increase, But Momentum To Wane: Fitch

April 17, 2026
Linkage Assurance Aligns With Brokers For Growth

Linkage Assurance Aligns With Brokers For Growth

December 6, 2021
Preferred PenCom Logo

PenCom Board Crafted To Hedge Setback

February 1, 2021
PTAD Wipes 21,227 Parastatals Pensioners From Payroll

PTAD Wipes 21,227 Parastatals Pensioners From Payroll

January 31, 2021
Preferred PenCom Logo

PenCom Board Back-To-Work Pass, Gets Tick Over

May 4, 2025
Anchor MD Loses Father

Anchor MD Loses Father

2
Regulators Clear Guinea Insurance  For Private Placement

Regulators Clear Guinea Insurance For Private Placement

2
NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

NAICOM Inaugurates Discount Rate Committee To Ease Insurance Contracts Under IFRS 17

2
Insurance Mastercard Joe Irukwu Passes On

Insurance Mastercard Joe Irukwu Passes On

2
AIICO Head office

Car Insurance Takes A New Turn With AIICO, ETAP ‘Redefine Partnership’

2
Authenticity Of Motor Policy, Technology Crowns Policyholders Verifying Partners

Authenticity Of Motor Policy, Technology Crowns Policyholders Verifying Partners

2
NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

2
Ebere Nwoji Makes It Back To Back As 2023 Print Media Reporter

Ebere Nwoji Makes It Back To Back As 2023 Print Media Reporter

2
Loss Adjusters Receive Charge To Match Speed Of New Developments

Loss Adjusters Receive Charge To Match Speed Of New Developments

2
NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

Federal Government & NAICOM Working On New Guidelines For Insuring Government Assets

2
FIFA 2026, Fetches World Economy $41bn

FIFA 2026, Fetches World Economy $41bn

June 11, 2026
Access Holdings Affirms Long-Term Value Strategy, Lands N1tr PBT, Assets Hit N56.5tr

Access Holdings Affirms Long-Term Value Strategy, Lands N1tr PBT, Assets Hit N56.5tr

June 11, 2026
Preferred PenCom Logo

Kenya Pension Regulator Upticks Nigeria’s PenCom as Beacon to Study

June 10, 2026
Leadway Advocates Safety First as Nigerians Embrace The New Year

Female Tech Talent, Leadway Endorsement Spreads Next Generation Inclusive

June 10, 2026
Oil & Gas Meet Insurance to Activate All Inclusive Insurance For Risks, And Growth Opportunities

Oil & Gas Meet Insurance to Activate All Inclusive Insurance For Risks, And Growth Opportunities

June 9, 2026
Insurance Meets Tech (IMT) Announces 5th Edition, Scheduled For 18th September 2026

Insurance Meets Tech (IMT) Announces 5th Edition, Scheduled For 18th September 2026

June 9, 2026
AIICO Delivers Strong Shareholder Confidence, Declares ₦4.39bn Dividend and Strengthens Board Leadership

AIICO Delivers Strong Shareholder Confidence, Declares ₦4.39bn Dividend and Strengthens Board Leadership

June 9, 2026
AIICO Tops Industry Rankings, Wins 2026 Insurance Company of the Year at Nairametrics Capital Market Awards

AIICO Tops Industry Rankings, Wins 2026 Insurance Company of the Year at Nairametrics Capital Market Awards

June 9, 2026
Innovation And Digital Distribution Lead in African Insurance Leaders Search For Sustaining Insurance Rejuvenation

Innovation And Digital Distribution Lead in African Insurance Leaders Search For Sustaining Insurance Rejuvenation

June 8, 2026
Ernst & Young Gets NAICOM Nod, Takes Charge of Nigeria’s Risk-Based Capital Framework

Barth Nnaji Becomes Pointman To Synchronise Oil & Gas And Insurance Sectors

June 4, 2026
ADVERTISEMENT

Recent News

FIFA 2026, Fetches World Economy $41bn

FIFA 2026, Fetches World Economy $41bn

June 11, 2026
Access Holdings Affirms Long-Term Value Strategy, Lands N1tr PBT, Assets Hit N56.5tr

Access Holdings Affirms Long-Term Value Strategy, Lands N1tr PBT, Assets Hit N56.5tr

June 11, 2026
Preferred PenCom Logo

Kenya Pension Regulator Upticks Nigeria’s PenCom as Beacon to Study

June 10, 2026
Leadway Advocates Safety First as Nigerians Embrace The New Year

Female Tech Talent, Leadway Endorsement Spreads Next Generation Inclusive

June 10, 2026
Oil & Gas Meet Insurance to Activate All Inclusive Insurance For Risks, And Growth Opportunities

Oil & Gas Meet Insurance to Activate All Inclusive Insurance For Risks, And Growth Opportunities

June 9, 2026
Insurance Meets Tech (IMT) Announces 5th Edition, Scheduled For 18th September 2026

Insurance Meets Tech (IMT) Announces 5th Edition, Scheduled For 18th September 2026

June 9, 2026
AIICO Delivers Strong Shareholder Confidence, Declares ₦4.39bn Dividend and Strengthens Board Leadership

AIICO Delivers Strong Shareholder Confidence, Declares ₦4.39bn Dividend and Strengthens Board Leadership

June 9, 2026
AIICO Tops Industry Rankings, Wins 2026 Insurance Company of the Year at Nairametrics Capital Market Awards

AIICO Tops Industry Rankings, Wins 2026 Insurance Company of the Year at Nairametrics Capital Market Awards

June 9, 2026
Innovation And Digital Distribution Lead in African Insurance Leaders Search For Sustaining Insurance Rejuvenation

Innovation And Digital Distribution Lead in African Insurance Leaders Search For Sustaining Insurance Rejuvenation

June 8, 2026
Ernst & Young Gets NAICOM Nod, Takes Charge of Nigeria’s Risk-Based Capital Framework

Barth Nnaji Becomes Pointman To Synchronise Oil & Gas And Insurance Sectors

June 4, 2026
Sovereign Trust Insurance Plc MD/CEO Mantle Falls on Durojaiye

STI Strengthens Capital Position With N1.5bn CBN Deposit Ahead of NIIRA Deadline

June 4, 2026
12 Month Recapitalisation, Risk Based Capital Race  on NIIRA 2025 Commences With Clear Avoidable, More Expectations

Ernst & Young Gets NAICOM Nod, Takes Charge of Nigeria’s Risk-Based Capital Framework

June 4, 2026
Leadway Advances Literacy in Six States in The Fourth Edition of ‘Pages to Places’ Initiative

Leadway Advances Literacy in Six States in The Fourth Edition of ‘Pages to Places’ Initiative

June 4, 2026
‘One Insurance Industry’ Initiative Advances Awareness, Inclusion And Collaboration in Abia

‘One Insurance Industry’ Initiative Advances Awareness, Inclusion And Collaboration in Abia

June 5, 2026
NEM Insurance NEM Insurance NEM Insurance
Business Post

We connect brands with buyers and sellers of insurance, pension and also project insurance and allied Businesses to the trending generation. We help the various public to adapt to the constant changes as it would impact, and also enable advertisers to connect, engage and target opportunities on line , in print and in person.

Browse by Category

  • Business Unlimited
  • Feature
  • Insurance
  • News
  • OIL & ENERGY
  • Pension
  • Travel
  • Uncategorized

Recent News

FIFA 2026, Fetches World Economy $41bn

FIFA 2026, Fetches World Economy $41bn

June 11, 2026
Access Holdings Affirms Long-Term Value Strategy, Lands N1tr PBT, Assets Hit N56.5tr

Access Holdings Affirms Long-Term Value Strategy, Lands N1tr PBT, Assets Hit N56.5tr

June 11, 2026
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 BusinessPost

No Result
View All Result
  • Home
  • Insurance
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
  • Contact Us
  • About
  • Advertise
  • Privacy & Policy

© 2023 BusinessPost

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In