According to the report, Facebook Inc could finish up paying a record-setting fine as it arranges a settlement with the FTC (Federal Trade Commission) over an investigation concerning its privacy practices.
It would be the biggest fine the FTC has ever exacted on a tech organization, however the particular sum still can’t seem to be determined. The biggest fine at any point forced by the FTC to shield consumers’ information was a $22.5 million punishment that Google paid in 2012.
Facebook has communicated starting worry with the FTC’s requests. On the off chance that discussions separate, the FTC could convey Facebook to court over its past carelessness concerning client protection. The FTC opened its test into Facebook in March 2018 after the Cambridge Analytica data scandal that ruptured the security of 87 million clients came into light.
After the Cambridge Analytica data scandal, Facebook has recognized other security breaches that have traded off the individual information of millions a greater amount of its clients. Facebook shares were down partially in expanded exchanging after the Post report was distributed.
The organization’s request centers around whether Facebook’s lead alongside a progression of extra privacy mishaps made open as of late add up to infringement of a 2011 understanding Facebook handled by the FTC to enhance its security privacy practices.
Facebook is at present challenging a fine of $641,000 forced by the UK’s data protection watchdog in October 2018, demanding that no UK information was included.
It’s additionally battling a claim documented by the lawyer general of the District of Columbia, which claims it deluded clients over data collection. Different examinations are in progress in different US states.
It’s vague whether the FTC would ask for a Facebook strip its acquisitions of Instagram and WhatsApp as a piece of the deal.