The Federal Trade Commission hit Facebook with a record-breaking $5 billion fine on Wednesday, along with a slew of new privacy restrictions in response to its mishandling of users’ private data.
The penalty, the largest levied against a company for privacy violations, stems from an investigation the FTC opened last year into claims Facebook violated a 2012 consent decree with deceptive practices that left users unaware the company was sharing their personal data with third-party apps.
“Despite repeated promises to its billions of users worldwide that they could control how their personal information is shared, Facebook undermined consumers’ choices,” FTC Chairman Joe Simons said. “The magnitude of the $5 billion penalty and sweeping conduct relief are unprecedented in the history of the FTC.”
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4 comments:
Should have forced them to pay every user for their information, at the same rate they received from the people they sold it to. I read it was $1.75 per member on Facebook. Several billion members, now that is a Fine!
That's lunch money for Facebook
Man Zuckerberg, ouch dude. Maybe Elon musk can give you a small loan of 5 billion. Lmao
They can come to a quick Conclusion on any Business Man.
(Whoops) Better say Business person. But cant come to a conclusion on Hillary. Sorry, 5 Billion is excessive.
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