technology

Meta, Google fined USD 70 million by South Korea over privacy issues

Meta, Google fined USD 70 million by South Korea over privacy issues

The latest regulatory move probing the internet sectors acquisition of personal data is South Koreas imposition of fines totaling more than USD 70 million against Alphabet's Inc. Google and Facebook parent Meta Platforms Inc.

According to South Korea's Personal Information Protection Commission, Google will be penalized USD 49.6 million and Meta USD 22.1 million. The alleged infractions include gathering and utilizing users' personal data for targeted advertising and other reasons without their permission.

The two businesses were also required by the South Korean commission to make sure consumers may "easily and clearly" comprehend and exercise their rights over their personal information.

Google and Meta disagreed with the commission's conclusions. Further, a Google representative also stated that the firm has consistently shown a commitment to providing consumers with power and transparency through ongoing updates. According to a Meta representative, the business is certain that its operations have been legally compliant and satisfy the requirements imposed by local authorities.

The South Korean fines are the latest in a line of legislative initiatives to defend users' rights to online privacy against the exploitation of personal data for advertising and other purposes by internet firms.

Additionally, the Federal Trade Commission in the US announced last month that it will examine introducing regulations that might forbid specific data collecting and processing methods.

South Korean regulators referenced comparable 2019 decisions from France and Germany that punished or restricted Google and Facebook for collecting data used for targeted advertising.

The South Korean privacy commission claimed that Google did not adequately disclose to South Korean consumers how their personal data is gathered on its new account sign-up page.

Yoon Jong-in, head of the Personal Information Protection Commission, warned that the accumulation of user-specific data gathering operations could lead to major privacy violations and they view these actions as major transgressions in that regard.

Source Credit: https://www.wsj.com/articles/google-meta-fined-a-total-of-more-than-70-million-by-south-korea-over-privacy-11663153509?mod=business_minor_pos8

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Rashi Thakkar

Rashi Thakkar

Rashi started her journey in content when she was completing her MBA. Since then, she has helped well-known startups and businesses boost their online presence. Currently Rashi pens downs insightful articles for AlpenHornNews and various other websites, covering an array of sectors from finance and business to technology and healthcare.