$5 billion fine on Facebook

Vastavam web: The Federal Trade Commission (FTC) has approved a penalty of $5 billion on Facebook following an year-long probe into the company’s privacy practices that began after reports of Cambridge Analytica, a United Kingdom-based political consultancy firm accessing the personal information of 87 million Facebook users without their permission, came into light.

The settlement which still has to be approved by the Justice Department’s civil division, will be the largest fine imposed by the federal organisation after it imposed a fine of $22.5 million on Google for “misrepresenting to users of Apple Safari Internet browser that it would not place tracking cookies or serve targeted ads to those users, violating an earlier privacy settlement between the company and the FTC”, back in 2012.

“This fine is a fraction of Facebook’s annual revenue. It won’t make them think twice about their responsibility to protect user data,” he said in a statement.