As a critical EU decision looms, Meta and Google face data doomsday
According to As a critical EU decision privacy experts, the impending decision could eliminate one of Meta’s only remaining options. As well as those of thousands of other companies that rely on shipping massive amounts of commercial data across the Atlantic.
The stark warning from Meta Platforms Inc. of a As a critical EU decision withdrawal from Europe may be just the beginning. Like one of the region’s top privacy watchdogs prepares a decision. That could hinder transatlantic data flows and cost tech titans billions of dollars in revenue.
The Irish data protection authority, which polices the Silicon Valley tech behemoths. That have flocked to the country, will soon rule on the legality of so-called standard contractual clauses operated by Meta.
Alphabet Inc.’s Google, and others to legally transfer vast amounts of user data to the United States for processing.
According to privacy experts, the impending decision could eliminate one of Meta’s only remaining options. As well as those of thousands of other companies that rely on shipping massive amounts of commercial data across the Atlantic.
In an interim opinion, the Irish authority questioned the legality of the SCCs. Saying they failed a critical test of protecting European citizens from the prying eyes of US agencies.
Because of the uncertainty surrounding the ruling, Meta warned in its most recent annual report. That it would “likely be available” to offer services such as Facebook and Instagram in the EU if it cannot use SCCs.
In the fourth quarter of 2021, Facebook generated $8.2 billion in revenue in Europe. Accounting for roughly a quarter of the total payment. While the United Kingdom will account for a significant portion of that and will be unaffected by the SCC ruling. The region is a substantial moneymaker for Meta, second only to its home markets of the United States and Canada.
