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action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114Source:https:\/\/techcrunch.com\/2023\/04\/27\/meta-warns-on-data-suspension-risk\/<\/a><\/br> Meta\u2019s earning call yesterday<\/a> was upbeat on better than expected revenue for the quarter. However buried in its disclosures to investors is a stark warning on looming regulatory risk it\u2019s facing in Europe \u2014 where a decision is expected in a matter of weeks (by May 12) that could see the tech giant ordered to suspend its transatlantic data flows.<\/p>\n \u201cWe expect the Irish Data Protection Commission (IDPC) to issue a decision in May in its previously disclosed inquiry relating to transatlantic data transfers of Facebook EU\/EEA user data, including a suspension order for such transfers and a fine,\u201d Meta\u2019s CFO wrote in its Q1 2023 report<\/a>.<\/p>\n We\u2019ve covered the (very) long-running saga \u2014 which hinges on a clash between US surveillance laws and EU privacy rights \u2014 most recently here<\/a> and here<\/a>. So regular TechCrunch readers will already know that a key development Meta is hoping will save its bacon in Europe is the adoption of a new high level data transfer pact which aims to resolve the legal uncertainty around EU data exports.<\/p>\n However the negotiations over this replacement deal have dragged on longer than expected and EU institutions are still reviewing the draft decision the Commission announced in December<\/a>.\u00a0So while the bloc had initially suggested the deal might be finalized by the end of 2022, it was forced to revise the estimate \u2014 saying in December that it hoped everything would be nailed down before July<\/a>.<\/p>\n
\nMeta says about 10% of its global ad revenue at risk from EU data flows order<\/br>
\n2023-04-27 22:13:00<\/br><\/p>\n