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FTC to fine Facebook $5 billion for Cambridge Analytica privacy violations

betanews Saturday, 13 July 2019
The Federal Trade Commission has voted to hit Facebook with a $5 billion fine for privacy violations relating to the Cambridge Analytica scandal. While this is the largest fine ever handed out by the FTC, the impact on Facebook's coffers is going to be minimal; this is how much revenue the company generates in a month. Although the fine has not been officially confirmed -- and neither the FTC nor Facebook are commenting on the matter -- a Friday vote on the fine is said to have gone 3-2 in favor of approving it. The size of the penalty has… [Continue Reading]
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Credit: CBS 5 SF KPIX - Published < > Embed
News video: FTC Approves $5 Billion Fine for Facebook

FTC Approves $5 Billion Fine for Facebook 01:55

At $5 billion, the fine the U.S. Federal Trade Commission is about to levy on Facebook is by far the largest it’s given to a technology company. Betty Yu reports. (7-12-19)

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