EU Considers Fine for TikTok Over Advertising Transparency Violations

The European Union has taken steps to impose a fine on TikTok for not adhering to online advertising transparency regulations.

This is reported by the Financial Times.

According to preliminary findings from the European Commission, the platform failed to provide an open library of its advertisements as required by the Digital Services Act.

This investigation has been ongoing for over a year and is part of a broader series of cases against TikTok in Europe. If violations are confirmed, the company could face fines of up to 6% of its global revenue.

In addition to advertising transparency issues, TikTok is also under investigation for potential interference in the Romanian elections of 2024. Earlier in May, the platform was fined €530 million by the Irish Data Protection Commission for transferring user data to China.

ByteDance, TikTok's parent company, has described this decision as a dangerous precedent for any global company operating in Europe.

Reminder:

TikTok was fined €530 million by the leading EU data protection regulator due to concerns over how it safeguards user information.