ByteDance, the owner of short video service TikTok, could be fined €500 million for illegally transferring user data from Europe to China. The Irish Data Protection Commission plans to announce the fine by the end of this month, Bloomberg reports, citing its own informed sources.
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The fine follows a lengthy investigation that found TikTok was violating the EU’s General Data Protection Regulation (GDPR) by transferring European user data to China, where it could be accessed by ByteDance employees, the statement said.
This fine could be the third largest in the history of the GDPR. Previously, Meta✴ Platforms was fined €1.2 billion for violating the regulation, and Amazon was fined €746 million. It is noted that the exact timing of the fine and its amount have not yet been approved, so they may change. At the same time, the regulator plans to ban the processing of European TikTok users’ data in China.
The news of a possible TikTok fine in the EU comes as the US government looms over ByteDance’s deadline to sell TikTok’s US unit. The latest contender for the business is Amazon, which has sent a letter to the White House expressing its willingness to acquire TikTok.
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