Facebook and the FTC Reach $5 Billion Settlement Over Privacy

It also imposes new requirements and accountability

Facebook and the Federal Trade Commission have reached a settlement in a privacy case that will require the social network to pay a record $5 billion fine while also placing additional restrictions on the company to ensure it secures users’ information.

The settlement, announced today by the FTC and Facebook, includes a fine nearly 20 times larger than the previous record for a privacy violation. It’s the culmination of a yearlong investigation by the FTC, which alleged Facebook took “inadequate steps to deal with apps that it knew were violating its platform policies.”

“Despite

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