The British Guardian newspaper revealed in a report published on Sunday, that Facebook will be fined more than 746 million euros, in addition to Facebook’s request to suspend data transfers to the United States, as Ireland is preparing to punish the social network for its handling of the user information policy.
The fine, which was first reported by Bloomberg and is expected to be confirmed on Monday, would set a record for a breach of the European Union's General Data Protection Regulations, surpassing the €746 million that Luxembourg imposed on Amazon in 2021.
The decision by the Irish Data Protection Commission, Facebook's main privacy regulator and owner Meta across the EU, is also expected to halt transfers of data from European Facebook users to the US.
The ruling is unlikely to take effect immediately. Rather, Meta is expected to be given a grace period to comply with the decision, which could push any suspensions into the fall, and the company is expected to appeal against the decision.
The Irish data watchdog has fined Meta, which also owns Instagram and WhatsApp, nearly €1 billion since September 2021.