Meta faces fine of more than $13 billion

Accordingly, the fine of 13.4 billion USD could be equivalent to 10% of global revenue in 2023. This fine is based on Meta providing an unfair advantage to the Merketplace marketplace when linking Facebook and Marketplace.

Meta faces fine of more than $13 billion

In its December 2022 statement, the European Commission EC highlighted two business practices of Meta: allowing Facebook users to automatically access Marketplace without the option to opt out of the service and Meta's terms of service allowing the company to collect data about these advertising campaigns and then use this data to benefit Marketplace, which are said to violate antitrust regulations.

Sources have revealed that the EC is likely to announce its decision in September or October, before the term of antitrust chief Margrethe Vestager ends.

Meta said the EC's allegations were unfounded and the company would continue to work with regulators to demonstrate that its products are pro-consumer and pro-competitive.

If fined, it would be Meta's first antitrust penalty in the EU. Mark Zuckerberg is also facing multiple investigations.

On July 1, the EC provisionally determined that Meta violated the EU Digital Markets Act due to its user fee model (those who pay a monthly fee will not have their data collected and will be able to use an ad-free version, or if they do not want to pay, they must agree to share personal data for advertising purposes).

Before Meta, Apple was also accused of violating the Act, which sets new rules for some technology companies around the world and helps regulators quickly address behaviors deemed anti-competitive.

Source: https://kinhtedothi.vn/meta-doi-mat-voi-an-phat-hon-13-ty-usd.html