Facebook Inc will pay a record-breaking US$5 billion fine to resolve a government probe into its privacy practices and the social media giant will ...
WASHINGTON: Facebook will pay a record-breaking US$5 billion fine to resolve a government probe into its privacy practices and the social media giant will restructure its approach to privacy, the US Federal Trade Commission said on Wednesday .
"Until we address Facebook's core financial incentives for risking our personal privacy and national security, we will not be able to prevent these problems from happening again," Chopra said.The FTC Republican majority argued the settlement"significantly diminishes Mr Zuckerberg's power - something no government agency, anywhere in the world, has thus far accomplished".
The Republican majority noted that Zuckerberg and other company executives will have to sign quarterly certifications attesting to the company's privacy practices. The FTC has been investigating allegations Facebook inappropriately shared information belonging to 87 million users with the now-defunct British political consulting firm Cambridge Analytica.
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