Meta starts the new year with a $414 mn fine over data privacy violations

After being forced to sell back Giphy by UK regulators, Mark Zuckerberg's Meta has been hit by a $414 million fine by Irish regulators for violating privacy norms. It has also been banned from forcing personalised ads on European users.

Meta's business relies largely on ads which target users based on their online activity, but the two fines and a ban on doing so in the EU, will deal a major blow to its revenue model. Meta is already haunted by falling ad revenues, and it also led to thousands of employees being laid off from the Facebook parent.

This isn't a first for Meta, which has been slammed for personal data leaks in different parts of the world in the past.

Meta starts the new year with a $414 mn fine over data privacy violations

The firm is already hit by falling ad revenues, and is now banned from forcing targeted advertisement on European users.