Meta was investigated by the European Union for unfair advantages in advertising. Meta, which owns Facebook, faced a billion-dollar fine for not acting fairly on Marketplace and similar sites.
The EU Commission may fine Meta 13.4 billion dollars!
The European Union is currently conducting research for Meta. Allegedly, the company that imposes negative conditions on advertising services on Facebook or Instagram is abusing its position in the market. Meta, which reportedly hinders competition in the market, is in the process of losing 10 percent of its revenue.
As you know, Meta provides advertising services to many posts on Facebook, including Marketplace. The same situation exists on Instagram. The company, which was alleged to have provided unfair advantages to certain advertisements, was investigated for allegedly abusing its power. The company, which is likely to be fined a huge $13.4 billion by the EU Commission, looks like it will pay 10 percent of its 2023 income just for this fine.
Explaining that all its actions are aimed at benefiting consumers and encouraging competition, Meta has rejected the allegations for now. However, the company, which has faced penalties for certain reasons before, seems unlikely to be able to get out of this situation. The EU Commission, which will announce its final decision in November, will probably impose a large fine on the company.
The owner of Facebook, who was recently confronted with a data breach, was fined $220 million that day. But this time the situation is different. This time the penalty is 60 times greater. Let’s see if the company really commits such a violation. What will be the commission’s decision on this issue? How will the decision affect competition on Facebook and Instagram?
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