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00:02Meta platforms Facebook and Instagram were charged by EU regulators with breaching Digital
00:08Services Act rules after a two-year European Commission investigation, according to Reuters.
00:14Regulators said the platforms failed to block children under 13 and used inadequate measures
00:19to detect and remove underage users. The commission said 10% to 12% of children under 13
00:25in Europe use the services. Meta said it disagrees with the preliminary findings and will respond
00:31before a final decision. The company said it has measures in place and will announce additional
00:37steps next week. Regulators said Meta must change its risk assessment methods and strengthen
00:42enforcement or face potential fines of up to 6% of global annual turnover. For all things money,
00:49visit Benzinga.com.
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