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Children’s Privacy: TikTok happy with ~$16M wrist slap from UK

The UK Information Commissioner’s Office (ICO) fined TikTok £12.7 million (~US $15.9 million), a penalty the company says it was pleased to accept (in lieu of the £27 million originally planned fine). While the company did express some regret for having been found to allow children under 13 use its site without their parents’ consent, we are still left with the questions: 1) Why didn’t they feel badly for doing this?, and 2) Why make these fines so affordable to them, when the message and penalty have no impact?