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FTC approves $5 billion Facebook settlement: report

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Facebook is facing a $5 billion payout over its privacy woes.

According to a report published by The Wall Street Journal on Friday, the US Federal Trade Commission has approved a roughly $5 billion settlement with the Californian technology giant.

The reported settlement comes following an investigation by the US regulator into the company’s myriad privacy issues, and follows two years of constant scandals.

Facebook previously warned investors that it expected to pay out between $3-5 billion.

A Facebook spokesperson did not immediately respond to Business Insider’s request for comment.

This story is developing…

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