Think social media protects your data? Platforms have racked up $26 billion in privacy penalties since 2020
Meta alone accounts for $23.7 billion in penalties across the US and Europe, as regulators crack down on data harvesting and child safety lapses.
Via TechRadar
Social platforms have incurred over $26 billion in privacy fines and settlements globally since 2020.
Meta platforms (Facebook and Instagram) accounted for $23.7 billion (91%) of all penalties.
The US led enforcement with $20.9 billion in fines, followed by European regulators at $5.16 billion.
Social media platforms thrive on personal data, but failing to protect it is proving exceptionally costly. Since 2020, the world’s top 10 social networks have accumulated more than $26 billion in privacy-related fines and regulatory settlements…
Courtesy
This story was originally published by TechRadar. All rights belong to the original publisher.
Read the original on techradar.com ↗