Facebook Fined $5 Billion By FTC For Privacy Lapses: largest Penalty Ever

According to report, the popular social media platform Facebook has paid 5 billion USD as penalty to settle a probe into social networks’ privacy and data protection lapses. Federal Trade Commission (FTC) have approved the settlement in a 2-3 vote with two democratic members of consumer protection agency dissenting. We are seeing this is highest penalty ever paid by any organization. Let’s take have a look at story in detail. Facebook Fined $5 billion for privacy lapses: Largest Penalty Ever One thing is clear that FTC has approved the settlement with 2-3 votes and takes a strong decision that Facebook needs to pay $5 billion as penalty for privacy violation. On other hand, there is still need of the approval from Justice Department before finished this matter. However, there is no further detail released which will talk about the restrictions on how Facebook is able to use personal information. Let’s Read more