Spain Slaps Facebook With Fine Of $1.44mm

Discussion in 'Stock Market Forum' started by Rob Phill, Sep 11, 2017.

  1. Rob Phill

    Rob Phill Member

    May 2017
    Likes Received:
    Facebook slapped with yet another privacy-related fine. This time its in Spain with a fine of $1.44MM. An investigation into the company revealed that Facebook failed to inform the Spanish users regarding how they intended to use their personal information for advertising and did not obtain consent on it. This didn't go well with the Spanish authorities.

    The investigation also revealed that Facebook kept the information of users for over 17 months after they even used closed their accounts. The investigation was carried along similar probes in countries like Belgium, France, Germany and the Netherlands.

    Considering the new GDPR regime which will be implemented by next May, European data protection rules will get stricter. This might challenge Facebook's business model.
  2. longtermbull

    longtermbull Administrator Staff Member

    Nov 2016
    Likes Received:
    While many people believe that FB does tend to push laws and regulations to the limit with regards to privacy, investors continue to chase the stock higher:-


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