FB Looking at $1 Billion in Fines After 5M EU Accounts Hacked

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Less than 10 percent of the 50 million users attacked in Facebook’s recent breach lived in the European Union, tweeted the Irish Data Protection Commission, which oversees privacy in the region. However, Facebook still could be liable for up to $1.63 billion in fines, or 4 percent of its $40.7 billion in annual global revenue for the prior financial year, if the EU determines it didn’t do enough to protect the security of its users.

Facebook  wrote in response to the IDPC’s tweet that “We’re working with regulators including the Irish Data Protection Commission to share preliminary data about Friday’s security issue. As we work to confirm the location of those potentially affected, we plan to release further info soon.”

Tech Crunch

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