Facebook Controversy: Britain imposed a fine of more than Rs 500 crore

Facebook Releases New Curbs On Harassment

The social networking site Facebook has once again found itself in the midst of controversy. The United Kingdom’s Competition and Markets Authority (CMA) has fined Facebook about 50 million. The site is being fined after an investigation by the regulator found that the company had deliberately withheld information related to Giphy’s acquisition. This is the first time the UK CMA has taken such action on Facebook. FB has deliberately refused to share the information it needs, the authority said.

The CMA had earlier this year launched an inquiry into Facebook’s 400 400 million acquisition. The CMA said no company can be bigger than the law. The CMA said in its investigation report that the refusal to provide information proves that the company was committed to the Initial Enforcement Order (IEO).

CMA Director Joel Bamford said: “We have warned Facebook that refusing to provide us with important information is a violation of the order.”

Meanwhile, according to reports, FB is preparing for its re-branding. Facebook’s new name could also be announced next week. Facebook CEO Mark Zuckerberg may announce the company’s new name at an event on October 28. In addition to the Facebook app, the company may also announce new names for Instagram, WhatsApp, Oculus. However, FB has not shared any information about this yet.

According to reports, Facebook is preparing for its re-branding. Facebook’s new name could also be announced next week. Facebook CEO Mark Zuckerberg may announce the company’s new name at an event on October 28.

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