TikTok hit with €345 million fine over privacy settings for children

This is the best summary I could come up with:

TikTok has been hit with a €345 million EU fine over the way it processes the personal data of children and teenage users, the first handed out by the bloc to the Chinese-owned social media platform.

TikTok, which set up an office in Ireland in 2020 and this month opened a long-planned site in Dublin to store EU citizens’ data, was investigated by the DPC over its compliance during the period July 31, 2020, to December 31, 2020.

The fine is the latest against social media platforms for lax privacy protections and comes as the DPC is finalizing an investigation into TikTok over data transfers to China.

Meta, the owner of Facebook, this year was handed a record €1.2 billion fine and ordered to suspend transfers of user data to the US.

The social media app, which is owned by Beijing-based ByteDance, said it had changed its policy on most of the issues covered well before the investigation began and had not yet decided whether to appeal.

In a statement, Elaine Fox, TikTok’s head of privacy for Europe, said the platform would “continue to strengthen protections for teenagers.”

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good.

Similar to what happened to Facebook recently

Only issue is they need to be hit with more and more and more! It's always some spare change for them and the companies always just pay it and don't change. We need a lasting solution or giant fines in the billions, otherwise I don't see those companies ever stoppibg this behavior. For them, this is just a tax they have to pay to continue collecting data. This needs to change.

I'm guessing that's still a worthwhile investment for them.

Most excellent!