Never miss a story

Get subscribed to our newsletter


×
The fine is the largest one the FTC has ever levied on a tech company. But it's affordable for Facebook, which brought in almost $56 billion in revenue in 2018. Pixabay

Facebook is set to pay $5 billion to the US Federal Trade Commission (FTC) this week as fine for users’ privacy violations in the Cambridge Analytica data scandal involving 87 million users.

The FTC has also fined credit bureau Equifax $575-$700 million for the breach that compromised 147 million users’ personal data in 2017, Slate.com reported on Tuesday. Earlier this month, the FTC commissioners voted by 3-2 with Republicans in support and Democrats in opposition to the penalty on Facebook.


It is still unclear what the restrictions are on Facebook’s handling of user privacy in the settlement. FTC and Facebook declined to comment on the story. But Facebook said in April that it expected to pay up to $5 billion to settle the probe.


The FTC investigated whether Facebook’s data sharing with the British firm violated a 2011 consent agreement signed between Facebook and the regulator. Pixabay

The FTC initiated the investigation after a scandal involving former British consulting firm Cambridge Analytica, which was accused of illegally accessing data of more than 87 million Facebook users without their prior knowledge.

ALSO READ: Coal-Fired Power to Remain Main Source of Energy Despite Push for Renewables

The FTC investigated whether Facebook’s data sharing with the British firm violated a 2011 consent agreement signed between Facebook and the regulator. The fine is the largest one the FTC has ever levied on a tech company. But it’s affordable for Facebook, which brought in almost $56 billion in revenue in 2018.

There have been several incidents after the Cambridge Analytica episode where Facebook acknowledged series of privacy lapses, including the latest admission that it mishandled millions of users’ passwords on Instagram and “unintentionally” uploaded emails of nearly 1.5 million of its new users. Facebook was set to announce its second quarter (Q2) results on Wednesday. (IANS)


Popular

Cross

By Maria Wirth

This is a true story about a Hindu who had converted to Christianity, and who felt the need to convince his family also to convert.

Once on a flight from Germany to India, one of those bright, young Indians sat across the aisle. We started talking. He was a science lecturer at an American university.

Keep Reading Show less
Markus Spiske, Unsplash

A behavior-centric approach based on a human-centric viewpoint on cybersecurity

By- Laxman Balagani

Remote working has grown to be a dominant trend in the post-pandemic world. Gartner anticipates that 41% of employees will work at least some of the time remotely once the coronavirus is in the rear-view mirror. Such a lasting change in the workplace culture has had the biggest impact on cybersecurity.

Keep Reading Show less

After taking a bath and wearing the traditional religious dress (dhoṫi and chadar or uttarīya) one should apply the religious marks on the forehead.

By- Devakinanda Ji!

OṀ (AUM)-TRI-KAALA-SUN-DHYA-ANU-ṢTHI-ṪA-BHOO-MYAI—NA-MA-HA

Keep reading... Show less