South Korea may impose sanctions on Meta over security concerns

South Korea's antitrust agency will consider imposing restrictions on Meta due to its allegedly poor anti-fraud efforts.

Here's What We Know

The Korean Fair Trade Commission conducted an investigation into the violation of the law by the owner of Facebook and Instagram. Eventually, the service sent an inspection report to the company. This is necessary to start considering the findings and make an appropriate decision.

The agency claims that Meta has not taken adequate action to provide remedies to users on Facebook and Instagram in the event of transaction disputes. This is required by the e-commerce law.

Although social media companies are not registered as e-commerce companies, the markets in which they operate require them to comply with this law.

South Korea's consumer protection agency has previously begun inspecting other major overseas shopping platforms, including Alibaba (AliExpress).

Source: Reuters