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Get Facebook will pay a $5 billion fine for one of its many privacy scandals

The Facebook logo on a blue background.

Today the Federal Profession Payment introduced that it had actually gotten to a negotiation contract Facebook regarding the Cambridge Analytica scandal (with CNBC). The FTC disclosed that Facebook incentives will certainly pay a $ 5 billion penalty, the biggest ever before imposed by the payment versus an innovation firm.

The statement of this Facebook penalty is the end result of almost a year and also a fifty percent of study right into the firm, consisting of a greatly released declaration for Congress by Facebook founder Mark Zuckerberg.

Facebook has actually currently scheduled $ 3 billion in April this year in expectancy of the penalty. Nonetheless, it resembles it requires to identify a means to obtain $ 2 billion even more.

The Cambridge Analytica scandal brought with it a political consulting firm that had access to Facebook's private data from around 87 million users. This data is said to have been used to influence the 2016 US presidential election.

Although this scandal is probably the largest and best-known invasion of privacy in Facebook's history, the company has had to deal with it numerous other problems pertaining to individual personal privacy prior to and also after. It is vague whether there are examinations pertaining to these various other issues that might bring about a lot more penalties on Facebook.

The $ 5 billion penalties stand for a big brand-new document for the FTC, given that the second-largest penalty they had actually troubled an innovation firm was for Google when it just needed to transfer $ 22.5 million in 2012.

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