EU Fines Apple and Meta €700M for Tech Rule Violations

The European Union has imposed a record-breaking €700 million fine against Apple and Meta, marking the first enforcement action under the Digital Markets Act (DMA) in 2024. This hefty penalty stems from alleged violations of the DMA, highlighting increased scrutiny on tech giants’ practices within the EU. Both companies face a deadline of 60 days to comply with the regulations or face further penalties. The fines are particularly significant as they represent the first large-scale financial penalty under the DMA, signifying a shift in how EU regulates these tech giants.