Uber fined £246m for personal data transfer

Published On Aug 26, 2024, 5:52 AM

Uber has been fined €290 million by the Dutch Data Protection Authority for violating the EU's General Data Protection Regulation (GDPR) by transferring sensitive driver data to US servers without adequate protection. This breach included personal information such as ID documents and location data, raising concerns about Uber's compliance with EU data privacy standards. The company has announced plans to appeal this decision, arguing that it was compliant with the relevant laws at the time of the transfers.

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Stock Forecasts

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The hefty fine and potential legal challenges could impact Uber's financial performance in the short term. Investors should watch for further regulatory scrutiny in Europe, which may affect Uber's operations and costs. However, an appeal process could mitigate the immediate financial impact if resolved favorably for Uber.

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