SEATTLE (dpa-AFX) - A European Union regulator is reportedly planning to slap a fine of over $425 million on Amazon.com Inc. (AMZN) for privacy violations. The proposed fine could be the biggest-yet penalty under the bloc's privacy law.
According to the Wall Street Journal, the CNPD, Luxembourg's data-protection commission, has circulated a draft decision sanctioning Amazon's privacy practices and proposing the fine among the bloc's 26 other national authorities.
The retail giant has its EU headquarters in the Luxembourg, so the CNPD is its lead privacy regulator. The case relates to alleged violations of General Data Protection Regulation, or GDPR, linked to Amazon's collection and use of personal data.
Other EU privacy regulators should first agreed with the proposal before it becomes final. This process could take months and can lead to changes in the proposed fine amount.
AMZN is currently trading at $3,330.83, up $49.68 or 1.51%, on the Nasdaq.
Copyright RTT News/dpa-AFX
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