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FTC approves $5 billion settlement agreement with Facebook

Liang CHE

Summary: According to CNBC, the US Federal Trade Commission (FTC) announced a $5 billion settlement agreement with Facebook on the company's privacy policy. The fine is the maximum fine imposed by FTC on technology companies. The previous record was a $22.5 million fine imposed on Google for privacy reasons. The $5 billion fine is about 9% ...

According to CNBC, the US Federal Trade Commission (FTC) announced a $5 billion settlement agreement with Facebook on the company's privacy policy. The fine is the maximum fine imposed by FTC on technology companies. The previous record was a $22.5 million fine imposed on Google for privacy reasons. The $5 billion fine is about 9% of Facebook’s 2018 revenue. The FTC will hold a press conference on the settlement agreement at 11 am Eastern time.

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