(CNN) Amazon (AMZN) faces a record-breaking €746 million (roughly $887 million) fine after a European Union data privacy regulator said the e-commerce giant had violated the bloc's signature privacy law, known as GDPR, in an advertising-related decision. The fine was imposed on July 16 and disclosed Friday in a financial filing. It is the largest in the law's three-year history, followed by Google's 2019 fine of €50 million. Amazon said the regulatory decision was "without merit" and added that it plans to "defend ourselves vigorously in this matter." "The decision relating to how we show customers relevant advertising relies on subjective and untested interpretations of European privacy law, and the proposed fine is entirely out of proportion with even that interpretation," the company said.

Source: CNN July 30, 2021 15:32 UTC