Facebook May Face $5 Billion FTC Fine for Data Misuse
Facebook expects that the Federal Trade Commission (FTC) may slap a fine of $3 to $5 billion on the social media giant once it wraps up its investigation into the company’s data protection and privacy practices. Facebook has already reserved $3 billion to pay potential fines.
While the FTC investigation was launched in response to the Facebook-Cambridge Analytica scandal that made headlines in early 218, the social media company has since admitted to numerous other privacy violations, data leaks and breaches. Recent research shows that as a result, most people now believe that Facebook is lying about how it handles consumer data. However, it does not seem that the future of the company is seriously threatened by any of the privacy scandals because people continue using Facebook and Instagram.