21-Oct-2019
EDITION #155



  

 

FACEBOOK EXPECTING A $5 BILLION FINE (OUCH!)

Facebook is preparing for a fine expected to be up to $5 billion following investigations concerning violations of users' data.

You're probably trying to reattach your jaw right about now, but this seemingly crippling fine is actually quite manageable for Facebook given they are tipped to make $22 billion in profit this year.

Facebook has been under fire a lot lately, and it's only getting harsher as the company faces a hefty fine in light of the Cambridge Analytica data scandal, where they exploited a loophole that allowed them to secretly collect data about 87 million Facebook users - including users who had not blocked access to their data.

The investigation, run by the Federal Trade Commission, is one of several aimed at Facebook, with other probes coming from the US, Ireland, Belgium and Germany. The most recent investigation uncovered that Facebook collected 1.5 million user email books without the permission or knowledge of the user.

The FTC is allegedly looking for a way to hold CEO Mark Zuckerberg accountable for the privacy lapses. Zuckerberg has been writing about his intentions to bring a focus on privacy to Facebook, but for many the damage has already been done and their confidence in the platform cannot be restored.

 
 
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