Breaking News

ASUSTOR at Computex 2026 Exceed the Infinite with New ASRock X870E Taichi White Motherboard Fanatec unveils new products and performance upgrades at Spring Showcase LG Electronics Introduces First UltraGear evo Hyper Mini LED 5K Gaming Monitor CORSAIR Launches ThermalProtect PCIe 5.1 600W 12V-2x6 Cable to Help Protect GPUs from Overheating

logo

  • Share Us
    • Facebook
    • Twitter
  • Home
  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map

Search form

FTC Reached a $5 Billion Settlement With Facebook: report

FTC Reached a $5 Billion Settlement With Facebook: report

Enterprise & IT Jul 13,2019 0

The U.S. Federal Trade Commission reached a record-setting $5 billion settlement with Facebook this week, according to a Wall Street Journal report.

The settlement is the result of an investigation launched after the company’s 2018 Cambridge Analytica privacy scandal into whether Facebook violated a 2011 FTC consent decree that required the company to give customers clear notice and obtain expressed consent before sharing their information with third-party vendors.

The settlement would be FTC’s largest penalty to date against a tech company over privacy issues, a record formerly held by the $22.5 million settlement reached with Google in 2012.

Facebook declined to comment.

The reported settlement amount represents less than a quarter of Facebook’s annual profit and does not require Facebook to break up its other products, Instagram and WhatsApp. The company, which reported revenue of almost $56 billion in 2018, had set aside $3 billion in anticipation of the fine.

While the United States government spent months coming up with a punishment for Facebook’s long list of privacy-related bad behavior, the best it could do was so weak that Facebook’s stock price went up.

In March 2018, U.S. regulators opened an investigation into Facebook’s privacy practices after the social network admitted political ad targeting firm Cambridge Analytica acquired detailed personal information of more than 87 million Facebook users through an academic researcher. The incident sparked a global debate about Facebook’s privacy practices.

Elsewhere in the U.S., the Justice Department and the Securities and Exchange Commission opened investigations related to the Cambridge Analytica scandal. Separately, the attorney general for Washington, D.C., has sued Facebook, claiming it failed to safeguard users’ data. Other state attorneys general are also investigating.

Tags: facebookFTC
Previous Post
Hackers Stole $32m From Cryptocurrency Exchange Bitpoint
Next Post
Sony Launches World’s Fastest Smart Multifunction USB Hub with UHS-II SD/microSD Reader

Related Posts

  • EU Privacy Watchdog Accused of Delaying Probe Procedures Against Facebook

  • Zuckerberg Says Remote Work is Here to Stay

  • Facebook to Launch New Shopping Feature Across Apps

  • EU Tech Chief Demands More From Facebook Regarding Business Practices

  • Facebook Buys GIPHY as Part of Instagram Team

  • Facebook Works With Telecoms on 2Africa Subsea Cable for Future Internet Connectivity

  • Facebook Reports Increased Number of Removals of Hate speech, Terrorism

  • Facebook Users Accept $550 Million Privacy Deal Over Facebook's “Tag Suggestions”

Latest News

ASUSTOR at Computex 2026
Enterprise & IT

ASUSTOR at Computex 2026

Exceed the Infinite with New ASRock X870E Taichi White Motherboard
PC components

Exceed the Infinite with New ASRock X870E Taichi White Motherboard

Fanatec unveils new products and performance upgrades at Spring Showcase
Gaming

Fanatec unveils new products and performance upgrades at Spring Showcase

LG Electronics Introduces First UltraGear evo Hyper Mini LED 5K Gaming Monitor
Gaming

LG Electronics Introduces First UltraGear evo Hyper Mini LED 5K Gaming Monitor

CORSAIR Launches ThermalProtect PCIe 5.1 600W 12V-2x6 Cable to Help Protect GPUs from Overheating
Enterprise & IT

CORSAIR Launches ThermalProtect PCIe 5.1 600W 12V-2x6 Cable to Help Protect GPUs from Overheating

Popular Reviews

Akaso 360 Action camera

Akaso 360 Action camera

Dragon Touch Digital Calendar

Dragon Touch Digital Calendar

be quiet! Pure Loop 3 280mm

be quiet! Pure Loop 3 280mm

Noctua NF-A12x25 G2 fans

Noctua NF-A12x25 G2 fans

Soft2bet and the unseen hardware that makes instant play possible

Soft2bet and the unseen hardware that makes instant play possible

Crucial T710 2TB NVME SSD

Crucial T710 2TB NVME SSD

JSAUX 65Wh Rog Ally Battery

JSAUX 65Wh Rog Ally Battery

Introducing PriceHub

Introducing PriceHub

Main menu

  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map
  • About
  • Privacy
  • Contact Us
  • Promotional Opportunities @ CdrInfo.com
  • Advertise on out site
  • Submit your News to our site
  • RSS Feed