TikTok faces €500M fine for transferring EU data to China

TikTok's parent company ByteDance Ltd. is staring at a privacy fine of over €500 million.

The penalty stems from the alleged illegal transfer of European users' data to China.

Ireland's Data Protection Commission (DPC), TikTok's main regulator in Europe, is likely to impose the penalty before the end of April, reported Bloomberg, citing sources familiar with the matter.