Facebook to Pay $5 Million fine to FTC
Facebook is fined with a massive amount of $5 billion by US Federal Trade Commission (FTC) for privacy violations.
This is the highest fine for any global company by FTC and this settlement has to be approved by the Justice Department's Civil Division.
Earlier, Facebook has faced security breach accusations and in 2011, the company settled the problem with Federal Trade Commission.
And then, the Cambridge Analytica issue has put Facebook in trouble again and FTC has reopened the case on Facebook in 2018.
For settlement, Facebook has been fined heavily and also FTC levied additional restrictions on the company.
The company is ready to pay this penalty as it is not a huge amount for it, though it seems big to common people and other companies.
Facebook has earned $5 million dollars in the first three months of the last year. So, we can say, it’s “nothing” for Facebook!