Meta starts the new year with a $414 mn fine over data privacy violations
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After being forced to sell back Giphy by UK regulators, Mark Zuckerberg's Meta has been hit by a $414 million fine by Irish regulators for violating privacy norms. It has also been banned from forcing personalised ads on European users. Meta's business relies largely on ads which target users based on their online activity, but the two fines and a ban on doing so in the EU, will deal a major blow to its revenue model.