Ireland fines Meta €91 million for data breach incident

ChainCatcher news, according to a report by Sina Finance, the Irish Data Protection Commission (DPC) has fined Meta Platforms (META.US), the parent company of Facebook, €91 million (approximately $102 million) following an investigation into password storage at its Irish subsidiary, according to a statement from the regulatory agency.

The owner of Facebook had previously notified the Data Protection Commission that it had inadvertently stored certain passwords of some social media users in "plain text" within its internal systems, without encryption protection or measures, prompting the Commission to begin an investigation into the password leak incident in April 2019.

Last year, the European Commission accused the tech giant of transferring user data to the United States and imposed fines of up to €1.2 billion (approximately $1.3 billion), and this fine can be seen as a supplement to the fines imposed by the European Commission last year.