Turkey's competition authority announced its decision to impose a daily fine of 4.8 million lira ($160,000) on Meta Platforms Inc., the parent company of Facebook.
This penalty stems from Meta's failure to provide adequate documentation as part of an earlier investigation.
The Turkish Competition Board stated that the outcome of a 2022 investigation into the online video advertising market required Meta to furnish a document outlining measures to ensure compliance and halt its violation of the law, thereby restoring competition in the market.
Expressing dissatisfaction with the adequacy of Meta's compliance measures submitted to the board, the authority opted to institute a daily fine, effective December 12. This financial penalty will persist until Meta submits a final compliance solution to the board.
It is noteworthy that in 2022, the Turkish competition authority had previously fined Meta Platforms 346.72 million lira ($11.57 million) for violating competition law.
