financetom
Business
financetom
/
Business
/
Turkey's competition board to fine Meta $37.2 million in data-sharing probe
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Turkey's competition board to fine Meta $37.2 million in data-sharing probe
May 9, 2024 2:19 AM

ISTANBUL (Reuters) - Turkey's competition board fined Meta Platforms 1.2 billion lira ($37.20 million) on Wednesday after concluding two separate investigations on data-sharing in its Facebook, Instagram, WhatsApp and Threads platforms.

The board launched an investigation into Meta in December over a possible violation of competition law by linking its social media platforms Threads and Instagram. The board in March imposed an interim measure on Meta meant to hinder data sharing between those two platforms.

Meta said last month it would temporarily shut down Threads in Turkey to comply with the interim order.

The board said on Wednesday it imposed a fine of 898 million lira for the compliance process and the investigations launched into Facebook, Instagram and WhatsApp, as well as an additional 336 million lira fine for a separate investigation into Threads.

Users will be able to merge personal data between Facebook, Instagram, and WhatsApp with their own consent and will be notified about data usage, according to the board decision. Users will be able to change their settings later, if needed, using an "accounts centre" on the platforms, it said.

In January, the board also fined Meta $160,000 per day for failing to provide sufficient documentation as part of another previous investigation. It had also imposed a daily fine of 4.8 million lira per day in March over a notification message about data-sharing.

Both those penalties ended May 3.

In 2022, the board also decided to fine Meta 346.72 million lira for violating competition law.

($1 = 32.2540 liras)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
CDK's cyber outage hits US auto dealers for second day in a row
CDK's cyber outage hits US auto dealers for second day in a row
Jun 20, 2024
June 20 (Reuters) - A cyber outage at retail technology and software provider CDK entered its second consecutive day on Thursday, impacting automobile dealers across the United States, the affected companies said on Thursday. The CDK outage is impacting automotive dealerships across the U.S. and Canada, including a portion of BMW Group dealers, a spokesperson for BMW North America told...
TikTok says US ban is inevitable without a court order blocking law
TikTok says US ban is inevitable without a court order blocking law
Jun 20, 2024
* ByteDance argues divestiture is not possible technologically, commercially or legally * TikTok claims the law violates Americans' free speech rights * TikTok has spent over $2 billion on efforts to protect U.S. user data By David Shepardson WASHINGTON, June 20 (Reuters) - TikTok and Chinese parent ByteDance on Thursday urged a U.S. court to strike down a law they...
Market Chatter: Ares Management Co-Founder Invests in Pershing Square
Market Chatter: Ares Management Co-Founder Invests in Pershing Square
Jun 20, 2024
02:54 PM EDT, 06/20/2024 (MT Newswires) -- Ares Management ( ARES ) co-founder Tony Ressler was among the investors who took part in Pershing Square's sale of a 10% stake in the firm for $1.05 billion, Bloomberg reported Thursday, citing people with knowledge of the matter. Pershing Square announced the stake sale earlier this month to investors, including Arch Capital...
Market Chatter: Pathways Alliance Oilsands Group Removes All Website, Social Media Content
Market Chatter: Pathways Alliance Oilsands Group Removes All Website, Social Media Content
Jun 20, 2024
02:58 PM EDT, 06/20/2024 (MT Newswires) -- The Pathways Alliance group of oilsands companies has removed all content from its website and social media feeds, citing uncertainty over a new anti-greenwashing rule poised to become federal law, while a major oil and gas industry group has also modified its website, The Canadian Press is reporting Thursday. It noted the Pathways...
Copyright 2023-2026 - www.financetom.com All Rights Reserved