Wednesday, April 8, 2020

FTC slaps super penalty of $ 5 billion on Facebook, highest in history

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Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

The Federal Trade Commission (FTC) or the United States Federal Trade Commission announces the imposition of a fine of $ 5 billion to technology giant Facebook Inc. This sanction was dropped after Facebook proved to violate the Federal Trade Commission rules, because the company have failed to maintain the personal data of its users.

A fine of US $ 5 billion is the heaviest sentence the FTC has ever dropped in history. The fine this is also 20 times greater than the penalties for violating the privacy and security of consumer data that have occurred worldwide.

Read also: New York Check with Facebook after unauthorized e-mail storage scandal

Citing the FTC website, www.ftc.gov, the highest sentence was previously handed down in the case of the CFPB with the US Government against Equfax. In this case, the fine was US $ 275 million.

Even the case of the US Government against Uber, only imposed a fine of US $ 148 million to the local startup.

Read also: Facebook faces the risk of being fined billions of dollars

FTC’s heavy fine to Facebook, as well as urging the company founded by Mark Zuckerberg to restructure, so that there is no more personal information of users that misused by any party.

“Although it has repeatedly promised billions of users worldwide to safeguard users’ personal information, users have been disappointed,” said Joe Simons, Chair of the FTC, on the FTC release on his website on Wednesday.

This big case began in early 2018, when there were 87 million social media user data in hand Cambridge Analytica.

Suspiciously, the data from the Facebook was misused for the US presidential election in 2016. Since then, the FTC has continued to investigate Facebook.

Read also: Italy slaps $ 1.1 million fine on Facebook after Cambridge Analtica data leak

Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

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