Regulators crack down on teen data collection and algorithmic transparency violations
Global privacy regulators imposed record-breaking fines totaling $2.3 billion on major social media platforms in 2024. Meta received the largest penalty of $1.2 billion for continued data transfers to the US without adequate safeguards. TikTok faces $800 million in fines across multiple jurisdictions for processing children's data without proper consent. YouTube and Snapchat also received significant penalties for algorithmic transparency failures. The enforcement wave signals regulators' growing willingness to impose maximum penalties. Platforms are restructuring data handling practices and investing heavily in compliance teams. Privacy advocates call for even stricter measures targeting addictive design patterns.
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