2023 shapes up as Meta’s annus horribilis — and it’s not just about the fines

MLex Market Insight

Meta Platforms can expect a bruising 2023 when it comes to data protection enforcement in Europe, with a series of cases taking aim at its business model and the possibility of more hefty fines and settlements on the horizon. And in the United States, the road ahead is just as rough, with the company agreeing to pay $725 million to settle claims relating to its decision to allow apps on Facebook’s platform to access users’ personal data. Yet with the tech company’s access to data now being challenged worldwide, the hefty fines may prove to be the least of the tech giant’s problems.