Facebook’s parent company, Meta, has assured that it will not be able to continue offering services such as its social networks Facebook and Instagram in the European Union if community regulations continue to prevent it from transferring data from its European users to the United States in the future, although it has pointed out that has no plans to withdraw from the mainland.
This has been denounced by the American company in a report presented to the United States Security and Exchange Commission, in which it has addressed the problems faced by its advertising business at an international level.
In the case of the European Union, in July 2020, a ruling by the EU Court of Justice (CJEU) annulled the ‘Privacy Shield’ regulation, which until now had regulated the transfer of user data between countries.
With this, the Community General Data Protection Regulation (RGPD) came into force in this regard, in force since 2018 and which prohibits companies from processing the data of European citizens outside the EU.
“If we are unable to transfer data between countries and regions in which we operate, or if we have restrictions on sharing data between our products and services, this could affect our ability to provide our services, the way we provide our services, or our ability to target ads,” as Meta now warned in the report.
Mark Zuckerberg’s company hopes to be able to reach a new agreement with the community institutions in this year 2022 with which the transfer of data between both parties will be legal again. If not, it has threatened to shut down some of its most popular services.
“If a new transatlantic data transfer framework is not adopted and we cannot continue to rely on SCCs [Standard Contractual Clauses] or rely on other alternative means of data transfer from Europe to the United States, we will probably not be able to offer a number of our most important products and services, including Facebook and Instagram, in Europe,” Meta warned.
However, the company has recognized that this measure would be contrary to its own interests, and that it would “materially and adversely affect” its business, its financial situation and its results of operations.
Email: ben@satprwire.com Phone: +44 20 4732 1985
Ben has been listening to the technology news for quite some time that he needs just a single read to get an idea surrounding the topic. Ben is our go-to choice for in-depth reviews as well as the normal articles we cover on a normal basis.
