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Now it's official: Facebook will pay $5 billion fine

Now it's official: Facebook will pay $5 billion fine

The US Federal Trade Commission (FTC) has officially punished Facebook with a $5 billion fine for the Cambridge Analytics scandal and further data loss.

In the end, the FTC ruled on the Cambridge Analytica scandal and the subsequent loss of user data by Facebook. The agreement, formalized today, obliges the social network to pay a fine of 5 billion US dollars and follow the following rules:

  • Make privacy changes to avoid similar incidents in the future
  • Prohibit access to the platform by developers who do not comply with the new privacy policy
  • Create a new committee focused on privacy risks

In a statement published on his social network, CEO Mark Zuckerberg stated that the company will examine its systems and create new controls to promote greater privacy.

We have a responsibility to protect people's privacy. We are already working hard to meet this responsibility, but now we will set a completely new standard for our industry. - Mark Zuckerberg

Facebook subsequently confirmed the agreement through its official blog, in which it stated that it will carry out quarterly checks to ensure that privacy controls work properly.

While this is the second-largest fine ever issued by the American guarantor, many democratic representatives believe that the amount is not enough. Some say that this ruling does not solve the fundamental problems that led to these violations.

Are you satisfied with the FTC's sanctions against Facebook?

Via: TNW Source: Facebook, Mark Zuckerberg

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  • Vijay 8 months ago Link to comment

    probably a drop in the ocean for them.

  • marco sarli
    • Admin
    8 months ago Link to comment

    A beginning but not enough. There is no real control on what data gets collected,how it is used and who buys it to do what. Plus the giant size of Facebook makes it uncontrollable and this fine irrelevant. The company should be split in smaller companies and not allowed to grow anymore.