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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.

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