Facebook ‘set to be fined a record $5bn’ for privacy violations!
The US Financial Trade Comission is set to fine Facebook $5 billion – the largest it’s ever given to a technology company, according to reports.
US regulators at the Federal Trade Commission (FTC) were looking into breaches of data laws and political consultancy firm Cambridge Analytica, who reportedly obtained the data of up to 87 million Facebook users improperly.
According to the US media, the Republican commissioners voting in favour while the Democrats opposed.
If the fine is ratified by the Justice Department’s civil division, it would be the largest ever levied by the FTC on a tech company.
Neither Facebook or the FTC has commented on the fine.
Cambridge Analytica’s actions came to light following an investigation by Channel 4 in March 2018.
Their report found that the company was using improper means to obtain information of Facebook users.