Turkey's competition watchdog fined Meta $18.5 million on 26th October for breaking its competition law, Reuters reported. The order said that data from WhatsApp, Facebook, and Instagram was combined for display advertising which created entry barriers for others. It also said that Facebook dominates the social networking space, consumer communications services and online display advertising market. (The information regarding the order has been translated from Turkish with the help of Google translate and reporting by TechCrunch.) Turkey's competition authority said that Meta should take measures to reinstate competition in the market. The company has been given 1 month to notify the competent authority of the steps it will take to do this and 6 months for implementing these measures, once approved, according to TechCrunch Why Facebook should be worried: Meta's business depends on profiling people and getting to know more about them so targeted ads can be delivered to the right people. Restrictions on how Meta and its subsidiaries use data can be a big blow to the company. The company's financial statements also reveal that most of its revenue comes from advertising. However, this is not the only reason for Meta to be worried. The social media giant has had to pay huge sums for its violations of laws. It was fined almost $400 million for Instagram's violation of various sections of the GDPR last month and $267 million for how WhatsApp processed user data. Last year, Facebook settled a privacy-related lawsuit for a whopping $650 million in the…
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