The U.S. Federal Trade Commission is expected to announce a roughly US$5 billion settlement with Facebook Inc as early as this week of its ...
WASHINGTON: The U.S. Federal Trade Commission is expected to announce a roughly US$5 billion settlement with Facebook Inc as early as this week of its investigation into the social media company’s handling of user data, two sources briefed on the matter said on Monday.
The settlement is expected to include government restrictions and oversight on how Facebook treats user privacy. It would mark the largest civil penalty ever paid to the FTC. While the deal resolves a major regulatory headache for Facebook, the Silicon Valley firm still faces further potential antitrust probes as the FTC and Justice Department undertake a wide-ranging review of competition among the biggest U.S. tech companies.Facebook is also facing public criticism from President Donald Trump and others about its planned cryptocurrency Libra over concerns about privacy and money laundering.
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