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Facebook Facing $1.63 Billion Fine under GDPR for Recent Data Breach
Facebook Facing a fine amount of $1.63 Billion under the GDPR act in EU for the recent data breach. On last Friday, the Mark Zuckerberg, CEO of Facebook announced that it has a huge data breach on Facebook and it is suspected that 50 Million users data were stolen. The attack was managed by using the “View As” feature in Facebook profile. Due to the massive data leak, Facebook temporarily disabled the “View As” feature.
According to a report on The Wall Street Journey, Ireland’s Data Protection Committee, looking forward to more details on the latest hack. The commission also demanded more details on this Data Breach to verify whether it violates the GDPR laws.
General Data Protection Regulation (GDPR) is an arrangement of strict laws that became effective in May. The law is to guarantee that European residents are not influenced by the misusing of information by the organizations.
An organization that can’t secure the information of the users is at risk to confront a most extreme fine of €20 million ($23 million), or 4% of the organization’s global annual income from the earlier year, whichever amount is bigger.
In Fact, Facebook failed to intimate about the Breach to the regulators within 3 days. They could also face a potential fine of 2% of their global revenue.
It is noted that Facebook 87 Million users were affected during the Cambridge Analytica Scam. Now, this latest Data Breach is the second massive Breach in Facebook this year.
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