For many companies, a data breach is an extremely serious incident. Of course, this is not only the loss of money, but even big data such as personal privacy information is the biggest loss! Therefore, companies spend a lot of money investing in security systems in order to prevent data leakage and violate privacy rules.
It is reported that Facebook parent company Meta was fined 17 million euros (about RM78.3 million) by the European Union, mainly because it failed to prevent a series of data breaches that occurred on the Facebook platform in 2018, violating EU privacy rules.
Meta’s primary privacy regulator in the EU, the Irish Data Protection Board, said they found that Facebook “failed to take appropriate technical and organizational measures” and thus in 2018, Facebook became the first major test of the EU’s General Data Protection Regulation after it was enacted.
At the time, Irish regulators announced an investigation into a breach affecting as many as 50 million accounts, and the related investigation was launched in December of that year. It was caused by a software bug that gave outside developers access to millions of users’ photos. Therefore, Facebook has to take responsibility for this incident and was fined 19 million US dollars (about RM79.79 million) by the EU.
