According to a Washington Post report, the specific amount has yet to be determined, but it would be the largest fine the FTC has ever received on a technology company.
Facebook Negotiating billions of dollars fine with the US agency: report
Facebook is negotiating a multi-billion dollar fine with the US Federal Trade Commission (FTC) on past privacy practices of the social media giant. According to a Washington Post report on Thursday, the specific amount has yet to be determined, but it would be the largest fine the FTC has ever received on a technology company. "If the talks collapse, the FTC could bring the matter to court in what would probably be a legal dispute," the report said.
Facebook confirmed that it was in discussion with the FTC, but declined to comment further. The biggest fine ever imposed by the FTC to safeguard consumer data was a $ 22.5 million fine that Google paid in 2012. The FTC opened its Facebook survey in March 2018 after the data scandal Cambridge Analytica which violated the privacy of 87 million light users.
"Facebook faces a time of reckoning and the only way it will come is through an FTC order with harsh penalties and other sanctions that prevent this kind of unfair privacy behavior," said Democratic Senator Richard Blumenthal (Connecticut) ). Consumer advocates urged the FTC to fine Facebook by surpassing $ 2 billion.
Washington DC's chief prosecutor, Karl Racine, has also sued Facebook in the first significant move by the United States to punish the company for its role in the Cambridge Analytica scandal. Facebook is currently being screened by the Securities and Exchange Commission, the FTC and the Justice Department. In the UK, the company was fined £ 500,000 compared to the Cambridge Analytica scandal, the maximum fine that the UK data regulator can impose.
The Irish regulator of data protection, which is investigating Facebook for the multiple admissions of security defects, could raise more problems in what is seen as the first important test of the new privacy rules in Europe dictated by the General Regulation on the protection of data (GDPR).
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