Facebook could be in line for billions in EU fines

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Facebook could be hit with fines in the billions as the EU completes its investigation into privacy violations.

The Wall Street Journal reports that the European Union is close to finalising a series of probes into Facebook's conduct.

The EU is investigating the social media giant within the scope of the new GDPR regulations.

The WSJ reports that the EU now has 11 potential cases against Facebook, some of which are very close to being final.

It is expected that final judgements and fines will be recorded by the end of September.

Fines under GDPR can be levied at up to four per cent of a company's worldwide revenue. For Facebook, this could mean individual fines of over $2 billion each.

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