The €1.2 billion fine imposed by the Data Protection Commission (DPC) on Meta Platforms Ireland, if confirmed, will wipe out the entire pre-tax profit booked by the Dublin subsidiary of the social media group in 2021. The Irish company had already buffered that sum ahead of the May 12 decision announced this Monday, growing its “regulatory compliance provisions” to €3 billion at the end of that year. Paying the fine, which relates to a finding that continuous transfers of European Facebook users’ data to the US has been in breach of the EU’s General Data Protection Regulation (GDPR), will be…

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