FTC slaps $ 5 billion fine on Facebook
Facebook fined $ 5 billion (about 3.44 trillion). Concerned about the Cambridge Analytica data scandal, the Federal Trade Commission (FTC) has announced that Facebook will have to pay $ 5 billion for settlement of privacy breach and Cambridge Analytica Scandal.
The Federal Trade Commission has accused Facebook of violating the law. The FTC has made several allegations on Facebook. These charges include lying, compromising with privacy, and sending advertisements through the phone number provided by the user for security.
The Federal Trade Commission alleges that Facebook has also lied about facial recognition from the user and this was not off by default for the user. The FTC has not only made a fine on Facebook, but there are many things too.
The Federal Trade Commission has told Facebook that the company will review the privacy for each new product and service and the review will be given to the CEO and third party accessor every quarter.
It is being said that after the FTC order, Facebook will now need to know the purpose of third party developers, who use Facebook data, and certification will also be required.
Facebook has agreed to pay the fine.
Three major reasons why Facebook will pay heavy fines
1. Cambridge Analytica Data Breach.
2. Facebook lied to users that Facial Recognition is off by default.
3. The phone numbers of the users were asked for security and then Facebook used phone numbers for Target Ads.
