Meta Fined $101.5M Over Facebook and Instagram Password Breach
• Meta fined $101.5 million by Irish Data Protection Commission (DPC). • Breach involved Facebook and Instagram passwords stored in plain text. • Impacted up to 600 million accounts. • Passwords accessible to 20,000 Meta employees since 2012.
Password Breach Details • Investigation revealed passwords stored in plain text since 2012. • Meta admitted millions of Instagram passwords were unsecured. • Breach first reported in 2019 by Meta.
600 Million Accounts Affected • A senior employee disclosed the breach affected up to 600 million passwords. • Passwords were accessible to internal employees, not external parties. • No official confirmation from Meta on exact numbers.
Criticism Over Meta's Delay in Reporting • Meta criticized for not promptly reporting the breach to regulators. • DPC emphasized the importance of securing user passwords. • Meta’s delay violated data protection laws.
Fine and Industry Reactions • Industry experts argue that the $101.5M fine is small compared to the breach's severity. • Under GDPR, fines can reach 4% of a company's global revenue. • Calls for stricter penalties to ensure better data security.