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Amazon hit with record €746 million fine for violating EU’s GDPR

The e-commerce platform's troubles don't end here as Amazon is also facing multiple antitrust probes initiated by the European Commission, and by the CCI in India.  Luxembourg’s National Commission for Data Protection (CNPD) fined Amazon €746 million on July 16 for violating the European Union's General Data Protection Regulation (GDPR), a regulatory filing by Amazon revealed. In addition to slapping a fine on the tech company, CNDP imposed "corresponding practice revisions," the filing stated. The CNPD is the concerned regulator because Amazon's EU headquarters is located in Luxembourg. Why it matters? This is the largest fine that has ever been imposed for a violation of the GDPR - the EU law for data protection and privacy that has become the model for data protection laws around the world since it went into effect in 2018. Why was Amazon fined? The CNPD issued the fine claiming Amazon's processing of personal data did not comply with the GDPR. The fine appears to be the result of a complaint filed by French advocacy group La Quadrature du Net, which in 2018 alleged that Amazon's targetted advertising practices are a violation of GDPR. However, neither Amazon nor CNPD has publically commented on the exact nature of the violations and the suggested business practice revisions. "Local laws bind the Luxembourg authority to professional secrecy and prevent it from commenting on individual cases, or confirming receipt of a complaint," Bloomberg reported. "Luxembourg’s fine would represent roughly 4.2% of Amazon’s reported net income of $21.3 billion for 2020, and 0.2% of…

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