Meta Platforms faces €5.85 million fine in Italy for gambling ads violations

Meta Platforms, the parent company of Facebook, has joined the list of tech companies fined in Italy for violating the ban on advertising gambling. The Italian communications watchdog AGCOM has imposed a fine of €5.85 million ($6.45 million) on Meta about profiles and accounts on Facebook and Instagram. The penalty also includes sponsored content that promoted either betting activities or games with cash prizes.

AGCOM, in its statement on Friday, outlined the nature of the breaches and the platforms involved. There has been no immediate response from Meta Platforms regarding the fine.

This development follows similar actions taken against other tech giants earlier this month. Alphabet Inc's YouTube and Amazon's Twitch were also fined for violating the ban on gambling-related advertisements. YouTube faced a fine of €2.25 million, while Twitch received a penalty of €900,000.

The fines signal a regulatory crackdown on tech companies that run afoul of local advertising regulations, reflecting an increased scrutiny on digital platforms' content and advertising practices in Italy.

(With Reuters inputs.)