Assuming regulators can prove the company violated Europe’s new General Data Protection Regulation privacy law, Facebook is expected to lose $1.63B over this week’s data breach incident, in which tokens could be stolen and used to access not only Facebook accounts, but any other account tied to its log-in process (e.g., Instagram). “The main question regulators will face is whether Facebook invested enough in security to avert a breach.”



It marks one of the first major tests of how regulators will apply the breach-notification and data-security provisions of the new European law, dubbed the General Data Protection Regulation, that went into effect earlier this year. It might also be a sign that the law’s threat of massive fines are already changing how firms handle big breaches — forcing them to disclose them faster and more publicly than before.

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Source: [H]ardOCP – Facebook May Face .63 Billion EU Fine for Breach