Technology
Facebook could face ‘record-setting’ fine from FTC
Facebook could soon set a new record — just not the good kind.
The Federal Trade Commission is reportedly considering a “record-setting” fine for the social network, as the result of its investigation into Facebook’s privacy practices following the Cambridge Analytica scandal, which revealed Facebook had exposed the personal data of millions of users.
The FTC confirmed it had opened an investigation into Facebook in March.
Now, The Washington Post reports that investigation could result in a massive fine for the company.
“The penalty is expected to be much larger than the $22.5 million fine the agency imposed on Google in 2012,” according to The Post. That fine, while not the largest ever imposed by the FTC, was the body’s largest fine for a privacy violation.
Facebook and the FTC didn’t immediately respond to a request for comment on the report.
It’s not clear just how large the fine could be. Facebook took in more than $13 billion in revenue last quarter. But a large fine would be one of the strongest rebukes yet of the company after Cambridge Analytica and other privacy scandals. Mark Zuckerberg has so far appeared before Congress and answered questions from European lawmakers, but in both cases emerged from the questioning relatively unscathed.
Facebook has been sanctioned for its privacy practices in the past. In 2011, the company reached a settlement with the FTC that “bars Facebook from making any further deceptive privacy claims.”
-
Business7 days ago
StrictlyVC London welcomes Phoenix Court and WEX
-
Entertainment7 days ago
How to watch every ‘Law and Order’ online in 2024
-
Entertainment7 days ago
BookTok and teens: What parents need to know
-
Business6 days ago
Why Apple’s ‘Crush’ ad is so misguided
-
Business6 days ago
Women in AI: Rep. Dar’shun Kendrick wants to pass more AI legislation
-
Business5 days ago
Healthy growth helps B2B food e-commerce startup Pepper nab $30 million led by ICONIQ Growth
-
Entertainment3 days ago
‘House of the Dragon’ Season 2 trailer breakdown: Dragons, Rook’s Rest, and more
-
Entertainment2 days ago
‘Furiosa: A Mad Max Saga’ review: George Miller’s blazing action folktale might just have outdone ‘Fury Road’