BUILD THE WALL!!!
Posted on 07/12/2019 4:34:55 PM PDT by Jyotishi
The Federal Trade Commission announced a settlement with Facebook over the company's 2018 Cambridge Analytica scandal.
The fine represents the largest ever imposed by the FTC against a tech company.
The FTC began probing Facebook in March 2018 following reports that political consulting firm Cambridge Analytica had improperly accessed the data of 87 million Facebook users.
Facebook co-founder, Chairman and CEO Mark Zuckerberg testifies before the House Energy and Commerce Committee in the Rayburn House Office Building on Capitol Hill April 11, 2018 in Washington, DC.
Yasin Ozturk | Anadolu Agency | Getty Images
The Federal Trade Commission approved an approximately $5 billion settlement with Facebook over the company's 2018 Cambridge Analytica scandal, a person familiar with the matter told The Wall Street Journal. Several other news outlets separately reported the approval.
The fine represents the largest ever imposed by the FTC against a tech company. Previously, the agency's largest fine against a tech company came in 2012 when Google agreed to pay a $22.5 million penalty due to its privacy practices. The fine would represent approximately 9% of Facebook's 2018 revenue.
The settlement drew criticism from a number of senators and Congress members, including Democratic Sen. Mark Warner.
"Given Facebook's repeated privacy violations, it is clear that fundamental structural reforms are required," Warner said in a statement on Friday. "With the FTC either unable or unwilling to put in place reasonable guardrails to ensure that user privacy and data are protected, it's time for Congress to act."
(Excerpt) Read more at cnbc.com ...
ping
$5 billion is just the cost of doing business, not a deterrent.
Well, $5-billion will be sufficient for a few more miles of the “privacy barrier” along the southern border. /sarc
BUILD THE WALL!!!
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FuqZuckenCuck
How many miles of border wall could that build?
Beat me to it. Criminal penalties need to be levied.
How many conservatives are feeding this beast?
Yeah, it’s Epstein type punishment. Hit ‘em where it doesn’t hurt.
Was Cambridge Analytica one of the government contractors Sally Yates let unmask hundreds of political ‘enemies’ through access to FISA material? They talk about tens of companies, but I’ve never seen a list.
Just what we need to build the wall
Not me. Dropped years ago when I realized they were censoring. I would post an art and it would go “poof”. This has been going on for YEARS!
They still collecting a net $6B/year from the taxpayer in the form of various tax schemes?
5B to FB is the change you found under your floor mat last time you lifted it.
Now, if Trump were like the Democrats, the money would not go in the common treasury, it would go for the pet project of the president with no Congressional appropriation.
Yeah. Needs at least two more zeros.
Not enough!!! I actually own this POS stock through a Benevolent Trust from a relative and I am rooting for it’s destruction.
Facebook edits content = publisher= libel. Same with goolag and twitter. Can’t hide behind platform laws if they edit content.
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