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VisitWill Meta face additional fines for data privacy violations by June 30, 2025?
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Official announcements from governmental agencies or Meta
South Korea Fines Meta $15.67 Million for Illegally Collecting User Data on Tuesday
Nov 5, 2024, 01:11 PM
South Korea has fined Facebook owner Meta Platforms $15.67 million for illegally collecting sensitive user data and sharing it with advertisers without a legal basis. The fine, equivalent to 21.62 billion won, was imposed by Seoul's data protection agency on Tuesday. Meta was found to have obtained information from approximately 980,000 South Korean Facebook users, including details on their religion, political views, and sexual orientation. The data was shared with advertisers without user consent, violating privacy regulations. The fine follows a four-year probe into Meta's data practices.
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No • 50%
Stock price increases • 25%
Stock price highly volatile • 25%
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Meta appeals the fine • 25%
Meta takes no action • 25%
Meta accepts the fine and pays • 25%
Meta negotiates a reduced fine • 25%