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Facebook is threatened with a fine 1,63 billion for data breaches

On Friday, the Facebook announced that it was still experiencing a data breach that led to the 50 million account report. The attackers managed to seize the account credentials through the social networking platform "View as".

Η Wall Street Journal has reported that the Irish Data Protection Commission, the leading entity examining Facebook for the European Union, has requested more information about hacking. The Commission requested information on the nature and extent of the breach in order to ascertain whether the breach of the data is inconsistent with the GDPR laws.

The General Data Protection Regulation (GDPR) is a set of strict laws that came into force in May to ensure that European residents are not affected by mismanagement of their data by different companies.

An enterprise that is unable to protect its user data may be charged a maximum fine of 20 million (23 million dollars) or 4% of its total annual revenue from the previous year, whichever is the greater.

In addition, as Facebook failed to alert regulators to attack within 3 days of the violation, it could also face a potential fine of 2% of its total revenue.

Personal information 50 million accounts have been compromised on Facebook, which has taken the necessary steps to counter any further attack through the same mechanism. Surprisingly, Mark Zuckerberg and Sheryl Sandberg, Facebook's COO, were also affected by the attack.

We only have to see if the fine is ultimately imposed on Facebook.

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