3 to 5 billion dollar fine for Facebook
On the occasion of the publication of the quarterly report, Facebook plans to pay a fine of 3 to 5 billion dollars to the Federal Trade Commission (FTC).
Indeed, the U.S. institution accuses Facebook of having violated an agreement dating from 2011 on dubious social networking practices in terms of privacy protection.
"During the first quarter of 2019, we reasonably estimated a probable loss of $3 billion related to the FTC's investigation of our platform and user data practices. The range of the amount is between $3 billion and $5 billion," the release states.
The private data of more than 57 million Facebook users have been transferred to the British firm Cambridge Analytica, but under the 2011 agreement with the FTC, Facebook must notify users if their data is transferred to a third party, something Mark Zuckerberg's company has failed to do.
Since March 2018, the FTC has been investigating Facebook and its privacy policies following the revelations of the Cambridge Analytica scandal.
Indeed, the U.S. institution accuses Facebook of having violated an agreement dating from 2011 on dubious social networking practices in terms of privacy protection.
"During the first quarter of 2019, we reasonably estimated a probable loss of $3 billion related to the FTC's investigation of our platform and user data practices. The range of the amount is between $3 billion and $5 billion," the release states.
The private data of more than 57 million Facebook users have been transferred to the British firm Cambridge Analytica, but under the 2011 agreement with the FTC, Facebook must notify users if their data is transferred to a third party, something Mark Zuckerberg's company has failed to do.
Since March 2018, the FTC has been investigating Facebook and its privacy policies following the revelations of the Cambridge Analytica scandal.
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