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FTC Slaps US$5 Billion on Facebook over Cambridge Analytica Scandal

  • The Federal Trade Commission (FTC), the consumer protection agency of the USA, has approved a fine of US$5 billion on Facebook for settling a probe into data privacy violations. The federal agency has been probing the allegations that Cambridge Analytica (a political consultancy company) obtained up to 87 million Facebook users’ data. Sources reportedly told the US media that the fine slapped by the FTC on Facebook has been approved in a 3-2 vote. Though Facebook and the FTC didn’t comment on the issue, if confirmed this is going to be the largest ever fine by the FTC on a technology company. The information of the $5billion fine falls in line with the estimates of the Facebook, which they revealed earlier this year. The civil division of the Justice Department needs to finalize the fine amount. While Democrats have called it inadequate, the Republican commissioners favored the US$5 billion fine.