EU regulators fine Amazon $886 million

By AP News

Share:

European regulators have fined Amazon 746 million euros ($886 million) for data protection violations.

In this article

  • Loading...
  • Want to see what you should be buying? Check out our top picks.

NEW YORK (AP) — European regulators have fined Amazon 746 million euros ($886 million) for data protection violations.

Amazon said in a regulatory filing on Friday that the Luxembourg National Commission for Data Protection issued a decision against the company earlier this month, claiming that its processing of personal data did not comply with the European Union general data protection regulation.

Amazon said that it believes the decision is without merit and that it will defend itself vigorously.

Amazon has come under scrutiny by the EU before. In November regulators filed antitrust charges against the company, accusing Amazon of using its access to data from companies that sell products on its platform to gain an unfair advantage over them.

While the U.S. initially criticized the EU for targeting American companies, it has more recently started taking a tougher line on big tech as well, suing Google last year for abusing its dominance in online search and advertising.

In May a court annulled a ruling by the European Commission that a tax deal between Amazon and Luxembourg’s government amounted to illegal state support. It was the latest setback to European Union efforts to tackle corporate tax avoidance.

Related Articles

Share:

In this article:

Topics:
Internet and Direct Marketing Retail
Industries:
Consumer Discretionary
Companies:
Amazon

Author: AP News

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

Digitonic Ltd, the owner of ValueTheMarkets.com, does not hold a position or positions in the stock(s) and/or financial instrument(s) mentioned in the above article.

Digitonic Ltd, the owner of ValueTheMarkets.com, has not been paid for the production of this piece by the company or companies mentioned above.

Originally published by Associated Press Valuethemarkets.com, Digitonic Ltd (and our owners, directors, officers, managers, employees, affiliates, agents and assigns) are not responsible for the content or accuracy of this article. The information included in this article is based solely on information provided by the company or companies mentioned above.