After failing to protect data of as many as 50 million users, Facebook could face a huge fine from an EU privacy watchdog.
On Saturday, Ireland's Data Protection Commission (DPC) told Wall Street Journal the social media giant could be fined as much as $1.63 billion if it's proven it didn't take necessary steps to protect data of the users.
Specifically, the fine would be imposed if DPC, which has been looking at Facebook's privacy-related policies, determines the company violated the General Data Protection Regulation in any way.
GDPR involves a strict set of rules, under which organizations serving EU citizens, have to take adequate steps to protect their personal data from being leaked or misused - Facebook is one of those organizations.
Companies failing to protect user data could either face up to $23 million as fine or 4% of their global revenue for the last year (Facebook's case). Also, they have to inform regulators about the breach within 72 hours of discovering it.