UK fines Facebook over £50 million for Giphy takeover breach

The CMA said it was the first time a company had been found to have consciously breached such an order.

“Given the multiple warnings it gave Facebook, the CMA considers that Facebook’s failure to comply was deliberate.”“We strongly disagree with the CMA’s unfair decision to punish Facebook for a best-effort compliance approach, which the CMA itself ultimately approved.It comes as Facebook faces a storm of criticism since a whistleblower leaked internal studies showing the company knew its sites could be harmful to young people’s mental health.

US authorities have struggled to regulate social media platforms like Facebook amid criticism that the tech giants trample on privacy and provide a megaphone for dangerous misinformation.US authorities on Tuesday said Facebook had agreed to pay up to $14 million to settle a government lawsuit accusing the tech giant of favoring immigrant applicants for thousands of high-paying jobs.

In the UK, the CMA on Wednesday added it had fined Facebook £500,000 for changing its chief compliance officer on two separate occasions without first seeking consent.Facebook announced in May 2020 its purchase of Giphy for a reported $400 million. Giphy is a platform and search engine for “stickers” and other products using the graphics interchange format or GIFs.

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Employees, coop members 'take back' Beneco on 3rd day of NEA takeoverEmployees and member-consumer-owners took back the Beneco headquarters on Wednesday morning, October 20, three days after NEA officials and appointees staged a pre-dawn takeover with the help of armed police forces.
Source: rapplerdotcom - 🏆 4. / 86 Read more »

Haiti gang seeks $1M each for kidnapped missionariesA Haitian gang that kidnapped a group of American and Canadian missionaries is asking for $17 million - or $1 million each - to release them.
Source: ANCALERTS - 🏆 26. / 50 Read more »

Duterte thanks Japan, US for COVID vaccine donations‘Friend closer than a brother’: Duterte thanks Japan, US for COVID-19 vaccine donations
Source: ANCALERTS - 🏆 26. / 50 Read more »

E-commerce sites can be liable for prohibited items: senatorLazada, Shopee and Facebook Marketplace can be held liable for the sale of prohibited electronic products in their channels, a senator said on Wednesday.
Source: ANCALERTS - 🏆 26. / 50 Read more »

Facebook shifting to virtual reality version of internetPARIS—Facebook on Monday announced plans to hire 10,000 people in the European Union (EU) to build the “metaverse,” a virtual reality version of the internet that the tech giant sees as the
Source: cebudailynews - 🏆 8. / 71 Read more »

One in three UK music jobs wiped out by COVIDThe COVID-19 pandemic has wiped out one in three jobs in the UK music industry, a trade body said on Tuesday, as it called for government support.
Source: ANCALERTS - 🏆 26. / 50 Read more »