FTC settles with Facebook for $5 billion fine: report

Source: The Hill | July 12, 2019 | Harper Neidig

The Federal Trade Commission (FTC) has reportedly approved a roughly $5 billion settlement with Facebook following its investigation into the company’s handling of the Cambridge Analytica scandal, the largest the FTC has ever imposed for privacy violations.

The Wall Street Journal, citing a person familiar with the matter, reported Friday that the FTC voted along party lines this week to approve the settlement, closing the investigation into the Cambridge Analytica incident.

The vote was 3-2, with Republicans in the majority approving the deal, according to the Journal.

The investigation was launched in March 2018 after reports that data from tens of millions of Facebook users was shared with the outside firm Cambridge Analytica. The agency had focused on whether Facebook violated a 2011 consent agreement with the FTC requiring greater privacy protections and transparency for users.

The New York Times reported that Facebook would have to submit to greater oversight under the settlement but there would not be any restrictions on its data collection practices.

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