South Korea’s Fair Trade Commission might penalize Meta for not protecting users enough on Facebook and Instagram’s marketplaces.
This investigation is part of a global trend where regulators are closely looking at Meta’s marketplace practices, worried about issues like selling recalled items and exploiting data.
Meta, previously known as Facebook, operates these popular social media platforms in South Korea, and even though they aren’t registered as e-commerce businesses, they’re expected to follow the country’s e-commerce law.
The commission claims that Meta hasn’t done enough to safeguard users or resolve disputes on Facebook and Instagram marketplaces, as required for e-commerce platforms.
Last year, the FTC sent a report to Meta, and if the commissioners decide on sanctions, it would be the first penalty for a global tech company under South Korea’s e-commerce law.
This news aligns with South Korean watchdogs reviewing practices of other major overseas shopping platforms, such as Alibaba’s AliExpress and Temu.
Meta hasn’t responded to these allegations yet, and the FTC won’t comment due to its policy on ongoing investigations.
These potential sanctions add to Meta’s growing list of regulatory challenges, including antitrust investigations, data privacy concerns, and criticism over marketplace practices worldwide.
<!– wp:embed {"url":"https://bigbreakingwire.in/mark-zuckerbergs-strategic-stock-divestment-a-comprehensive-analysis-of-106m-in-meta-platforms-inc-shares-sold-in-february-and-march-2024/”,”type”:”wp-embed”,”providerNameSlug”:”bigbreakingwire”} –>
