Turkey to Impose Daily Fine of $160,000 on Meta for Non-Compliance

Turkey's Competition Authority has imposed a fine against Facebook parent Meta Platforms Inc., announcing a daily sum of $160,000 for Meta's failure to provide adequate documentation in response to a prior investigation.

The Turkish Competition Authority released a statement on Wednesday, revealing the decision to penalize Meta for its shortcomings related to a 2022 online video advertising market investigation. The investigation's outcome mandated Meta to submit comprehensive documentation outlining its compliance measures to rectify its violations of the law and to restore competition in the market.

According to the Competition Authority, Meta's submission on compliance measures fell short of providing satisfactory explanations. Consequently, the board decided to impose a daily fine, effective from December 12, until Meta presents a final compliance solution deemed acceptable by the regulator.

"We disagree with the Turkish Competition Authority's findings but will continue to constructively cooperate with the Turkish Competition Authority to resolve the matter without delay," responded a Meta spokesperson.

This move follows the competition authority's earlier decision in 2022 to fine Meta a significant sum of 346.72 million lira equivalent to $11.6 million for violating competition law.

The Turkish Competition Authority's decision underscores the importance of compliance with local regulations and the authorities' commitment to fostering fair competition within the online advertising market. Meta's willingness to cooperate in resolving the matter will likely be closely monitored as the situation develops.

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