US Consumer Protection Agency: FTC approves billion-dollar bill for Facebook
After more than a year of investigation, Facebook has to pay five billion dollars for data breaches. This is clear from a media report.
The US consumer protection agency FTC has approved more than a year of investigation, a fine of about five billion dollars against Facebook for privacy violations. As the Wall Street Journal , citing a person familiar with the case, reported, the vote had narrowed by three votes to two. The Republican representatives voted for it, the Democrats voted against it.
The report will now be examined by the Ministry of Justice. How long that lasts, be open. Facebook did not want to comment. The FTC did not initially respond to requests. Facebook had already adjusted to a penalty and announced in April that it could amount to five billion dollars.
Focus of authority on scandal at Cambridge Analytica
The company has had several privacy concerns over the past few years. The FTC authority is focusing on the scandal surrounding Cambridge Analytica in March 2018, when the data analytics company uncovered personal information from around 87 million Facebook users without their consent. The aim of the campaign was to influence their vote in the US elections in 2016 in the sense of clients.
The key issue is whether Facebook violated an agreement with the FTC in 2011 to protect users' privacy. The current fine of € 4.4 billion would be the highest that the FTC ever imposed on a technology company. However, the penalty does not even equal one-tenth of the Facebook profit of nearly $ 56 billion last year.