meta fined: Turkish competition board to fine Meta $160,000 per day for non-compliance
Turkey’s competition authority said on Wednesday it had decided to fine Facebook parent Meta Platforms Inc 4.8 million lira ($160,000) a day for failing to provide sufficient documentation as part of a previous investigation.
![]()
In a statement, the Turkish Competition Board said the result of a 2022 online video advertising market investigation required Meta to submit a document detailing compliance measures to stop its violation of the law and to reestablish competition in the market.
Elevate Your Tech Prowess with High-Value Skill Courses
| Offering College | Course | Website |
|---|---|---|
| MIT | MIT Technology Leadership and Innovation | Visit |
| IIM Lucknow | IIML Executive Programme in FinTech, Banking & Applied Risk Management | Visit |
| Indian School of Business | ISB Professional Certificate in Product Management | Visit |
The authority said it did not find explanations in Meta’s compliance measures submitted to the board sufficient and decided to impose a daily fine effective from Dec. 12 until a final compliance solution is submitted to the board.
“We disagree with the Turkish Competition Authority’s findings but will continue to constructively cooperate with the Turkish Competition Authority to resolve the matter without delay”, a spokesperson for Meta said.
In 2022, the authority decided to fine Meta 346.72 million lira ($11.6 million) for violating competition law.
($1 = 29.9660 liras)
Discover the stories of your interest
Stay on top of technology and startup news that matters. Subscribe to our daily newsletter for the latest and must-read tech news, delivered straight to your inbox.
Turkey’s competition authority said on Wednesday it had decided to fine Facebook parent Meta Platforms Inc 4.8 million lira ($160,000) a day for failing to provide sufficient documentation as part of a previous investigation.
![]()
In a statement, the Turkish Competition Board said the result of a 2022 online video advertising market investigation required Meta to submit a document detailing compliance measures to stop its violation of the law and to reestablish competition in the market.
Elevate Your Tech Prowess with High-Value Skill Courses
| Offering College | Course | Website |
|---|---|---|
| MIT | MIT Technology Leadership and Innovation | Visit |
| IIM Lucknow | IIML Executive Programme in FinTech, Banking & Applied Risk Management | Visit |
| Indian School of Business | ISB Professional Certificate in Product Management | Visit |
The authority said it did not find explanations in Meta’s compliance measures submitted to the board sufficient and decided to impose a daily fine effective from Dec. 12 until a final compliance solution is submitted to the board.
“We disagree with the Turkish Competition Authority’s findings but will continue to constructively cooperate with the Turkish Competition Authority to resolve the matter without delay”, a spokesperson for Meta said.
In 2022, the authority decided to fine Meta 346.72 million lira ($11.6 million) for violating competition law.
($1 = 29.9660 liras)
Discover the stories of your interest
Stay on top of technology and startup news that matters. Subscribe to our daily newsletter for the latest and must-read tech news, delivered straight to your inbox.
Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.