Apr 24, 2019

Facebook to be Fined up to 5 Billion Dollars in FTC Privacy Probe

Facebook is said to pay a fine of around $5 billion which is related to the Federal Trade Commission probe into its data practices. This will mark the biggest penalty against a tech company in the agency's history.

The actual amount however is still unclear since the inquiry is still said to be pending. Facebook has been under target since some time especially after a series of privacy missteps that led to tarnishing the company's reputation and has sent its executives scrambling to clean up the mess.

The problem began in the last year when Cambridge Analytica broke the news that Facebook has suffered a major data breach. The penalty by F.T.C might also include restrictions on Facebook's business or oversight of its opeartions which might result in eating up the company's highly profitable ad business.
Read more at fortune.com