It’s official. Facebook will pay a record-breaking $5 billion fine as part of an agreement with the Federal Trade Commission over privacy violations.
On Wednesday, both Facebook and the FTC announced the details of the finalized settlement, which stems from the Cambridge Analytica scandal.
For months, information has leaked regarding fines and other measures the FTC might use to punish and regulate Facebook. Now, we know the official details.
The settlement
Along with the $5 billion fine, the largest ever levied for privacy violations, Facebook's board will be required to nominate an "independent privacy committee" that would remove “unfettered control” of the company's privacy policy from CEO Mark Zuckerberg. Read more...
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July 24, 2019
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