ðĻ Meta challenges British High Court! Bet fines surpass 700 billion baht ðļ
ðĻ Meta challenge to hit the British High Court! Bet the fine surpassed 7 billion. ðļ
It was a global hot topic that the tech industry had to watch when Meta (the parent company of Facebook and Instagram) decided to file a case with the British High Court to oppose "Ofcom" (the UK media regulator) on how to calculate fines under the new Online Safety Act. ðŽð§
This dilemma has a clear beginning, but a very enormous stake. That is..."Should fines be based on total income worldwide or just income in the UK?" ðĪ
ð° How cruel are the new laws?
The law says Ofcom has the power to order fines for companies breaching up to 10% of "global revenue" or ÂĢ18 million (whichever is higher).
Last year, Meta had a global revenue of about $201 billion. If it hit the theoretical ceiling, the figure could reach $20 billion (about $7.3 billion). ðą
ð view of the Meta side.
Meta argued that this method of calculation was "disproportionate and unlawful," looking at fees and fines; it should only be assessed from the services being supervised in the country in which it is open.
ðĄïļ View of the Ofcom side
Ofcom responded that this is a straightforward law enforcement and declared that it is fully prepared to defend this position in court.
ðïļ The case is scheduled for full consideration this October 13 - 14.
The case is considered a major turning point that could shake the whole world. ð
If Meta wins, the case will become the new norm for directing multinational technology companies.
But if Ofcom wins...The era of ordering adjustments based on "global revenue" will become a new standard for major companies to prepare for!
# deepkub # Meta # Ofcom # OnlineSafetyAct # Technology News# Online business # Cyber law




















































































