WASHINGTON: Facebook Inc will pay a record-breaking US$5 billion fine to resolve a government probe into its privacy practices and will boost ...
WASHINGTON: Facebook Inc will pay a record-breaking US$5 billion fine to resolve a government probe into its privacy practices and will boost safeguards on user data, the U.S. Federal Trade Commission and the social media company said on Wednesday.
"Would it have been nice to get more, to get US$10 billion, instead of US$5 billion for example, to get greater restrictions on how Facebook collects uses and shares data?" he asked at a press conference."We did not have those options. We cannot impose such things by our own fiat.
The Republican FTC majority said the settlement"significantly diminishes Mr. Zuckerberg's power - something no government agency, anywhere in the world, has thus far accomplished." In a Facebook post, Zuckerberg said""we're bringing our privacy controls more in line with our financial controls." He added that when features are added or modified,"we’ll have to document any risks and the steps we're taking to mitigate them."
Republican Senator Josh Hawley of Missouri also criticized the deal, saying it"does nothing to hold executives accountable. It utterly fails to penalise Facebook in any effective way."
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