FTC to impose 5 billions fine on Facebook
Facebook has to pay $ 5 billion due to a series of privacy scandals. Stock market watchdog FTC has approved a settlement this week about, among other things, the major leak in which data from users ended up at Cambridge Analytica, reports The Wall Street Journal Friday night.
The social media company previously said it had set aside $ 3 billion for the issue. Earlier this year, Facebook said it would assume that the costs would ultimately be between 3 billion and 5 billion dollars.
This year it came out that the Cambridge Analytica campaign agency had unauthorized access to the personal information of millions of Facebook users. That information was used, among other things, for the Donald Trump election campaign in 2016. With the scandals, Facebook would have violated the rules of a previous settlement in 2011. The FTC can only issue fines to companies that go wrong several times.