The European Union has imposed a substantial fine of $369 million (equivalent to 345 million euros) on the popular Chinese-owned social media platform TikTok on Friday, according to a report by AFP.
This significant penalty comes in response to child data breaches that were uncovered by Ireland’s Data Protection Commission (DPC) during a two-year inquiry.
Ireland’s Data Protection Commission said in a statement that it has handed down the “administrative fine”, which is equivalent to $369 million, over the breaches it uncovered in a two-year inquiry.
The watchdog gave TikTok three months “to bring its processing into compliance” with its rules.
EU member Ireland’s DPC plays a key role in policing the bloc’s strict General Data Protection Regulations (GDPR).
The watchdog in September 2021 began examining TikTok’s compliance with GDPR in relation to platform settings and personal data processing for users aged under 18.
It also looked at TikTok’s age verification measures for persons under 13 and found no infringement, but found the platform did not properly assess the risks to younger people registering on the service.