Meta faces fines exceeding $13 billion.

Accordingly, the $13.4 billion fine could be equivalent to 10% of global revenue in 2023. This fine is based on Meta's alleged unfair advantage given to Marketplace by linking Facebook and Marketplace.

Meta faces fines exceeding $13 billion.

In its December 2022 statement, the European Commission (EC) highlighted two business practices by Meta: allowing Facebook users automatic access to Marketplace without the option to opt out, and Meta's terms of service allowing the company to collect data on these advertising campaigns and then use this data to benefit Marketplace, which it deemed to be in violation of antitrust regulations.

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

Meta asserts that the EC's allegations are unfounded and that the company will continue to cooperate with regulators to demonstrate that its products support consumers and competition.

If fined, this would be Meta's first antitrust penalty in the EU. In addition, Mark Zuckerberg is facing multiple other investigations.

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

Prior to Meta, Apple was also accused of violating this Act. This act sets new rules for certain technology companies worldwide and helps regulators quickly address behaviors deemed anti-competitive.

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