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Posted on 07/13/2019 2:30:15 PM PDT by Eleutheria5
The Federal Trade Commission (FTC) has voted to approve fining Facebook approximately $5 billion as a penalty for the company's privacy violations in the Cambridge Analytica scandal, The Guardian reported.
According to the Washington Post, an anonymous source familiar with the issue said Friday that the settlement was approved 3-2, and that the Justice Department is expected to approve the move.
In addition to the fine, which would be the highest ever levied by the FTC against a technology company and the highest ever levied for a privacy violation, Facebook will reexamine how it handles user data.
The Washington Post noted that Facebook "may have to document every decision it makes about data before offering new products, keep closer watch over third-party apps that tap users’ information, and require its top executives, including CEO Mark Zuckerberg, to attest that the company adequately has protected privacy."
However, the reports noted that the fine will not affect Facebook's ability to share data with third parties.
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(Excerpt) Read more at israelnationalnews.com ...
Now the prices will go up for all of us!
It costs me nothing to avoid FB like the plague. Twitter, too. Google’s not so easy. But it can be done.
There’s something about Zuckerberg’s weasel face that makes you want to beat the stuffing out of him. He is simply a repulsive person and would be so in any line of work.
Big Tech needs to be cut down to size. I’m doing my part by having as little to do with social media as possible — I would never dream of having my own account, although there are a couple right-leaning Twitter feeds I follow from time to time.
Friends thought I was paranoid when I said about Facebook a few years ago: “Say goodbye to your privacy.”
I don’t want to sound boastful, as I’m far from the most tech-savvy guy around. But I think I nailed it just that once.
This will greatly upset our resident libertarian lunatics who believe if you own private property that you can abolish free speech, confiscate firearms, abort babies, murder children, blow up roads, bring back slavery, empower banks to seize all your money and open the borders to alien invaders.
Facebook’s crime was thinking that it was okay to sell people’s personal data just like they did to the Democrats and Obama. They found out there were two rules in life: one for Democrat elites and one for everyone else.
Where is the conservative version of eric holder. He took these kind of settlements and gave liberal groups half
The govt collects these huge fines. Where does the money go? Who’s spending it? Where’s the traceability?
Precisely. No punishment for the first, greater, abuse!
There is no private info on facebook.
So. What happens to the 5 billion? Hmmmmm? I mean that is a stupendous amount of money.
That is literally enough money to completely wall off California from Mexico.
Let the bidding begin!
Blame Facebook!
People who have been wronged by twitter, fagbook and Google need their day in court.
And now the Feds control the data. Just like that.
Eric Holder was the most badass Attorney General this country has ever had. It's a damn shame he was playing for the wrong team.
Just give the feds their cut.
Fined? So, what does each of the victims get and how fast?
/rhetorical
Nice little business you have here.
It would be too bad if something happened to it.
Give me $5,000,000,000
BINGO!
You want the fools to figger out how more taxes on businesses REALLY work??
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