TikTok and Boohoo face payments while Apollo discloses stolen personal data
TikTok will pay 400 million dollars in a children's privacy case and Boohoo 2.3 million euros over fake discounts. Apollo reported personal data taken from cloud systems.
Economics & Markets··Evening
The TikTok settlement focused on children's accounts
The US Justice Department reached a 400 million dollar settlement with TikTok, ByteDance and affiliated companies in a children's online privacy case. The company will pay 300 million dollars now and 100 million dollars after a court cancels the earlier Musical.ly settlement. The department had alleged that the platform knowingly allowed children under 13 to open ordinary accounts and share videos and messages with adults while collecting personal information without parental consent. The company later strengthened its safeguards.[1]
Price problems appeared in most Boohoo promotions examined
France's consumer watchdog DGCCRF fined Boohoo 2.3 million euros over misleading discounts on its website. Of the promotions examined, 40 per cent were not genuine price reductions, 7 per cent delivered a smaller discount than advertised and 48 per cent were actually price increases. The regulator also said the use of leather and suede descriptions for synthetic products breached labelling rules. Boohoo said the practices occurred between October 2023 and February 2024 under previous management and had been corrected.[2]
Apollo listed the personal data taken through cloud access
Apollo told California's attorney general that certain cloud platforms were accessed without authorisation between 6 and 10 July. The information taken included names, dates of birth, home addresses and Social Security numbers. The firm, which has about 5,000 employees, did not say whether those affected worked for Apollo or its portfolio companies, or whether a ransom was paid. The disclosure followed warnings about a group calling employees at financial firms while posing as IT support.[3]
