Estimated reading time: 0 minutes, 36 seconds

Microsoft Stashes $425M for Expected European Fine

Microsoft has said that it is expanding a reserve fund and will “take a charge of approximately $425 million in the fourth quarter” of 2023 in anticipation of a potential fine for violating Europe’s sweeping data-privacy law. So reports GovInfoSecurity.

gdpr 3285252 1920The computing giant disclosed in a regulatory filing that it had been notified by the European Union’s data watchdog, the Irish Data Protection Commission, of the agency’s intent to levy a fine at the end of a probe into allegations that targeted advertising on LinkedIn ran afoul of the General Data Protection Regulation.

In 2016, Microsoft acquired LinkedIn in a $26 billion deal. The EU recently fined Meta $1.3 billion for not following the bloc’s privacy rulebook.

Read the full article from GovInfoSecurity.

Read 1222 times
Rate this item
(0 votes)

Visit other PMG Sites:

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.