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The company will also be required to strengthen measures to protect sensitive user data.
The US Federal Trade Commission (FTC) and Facebook have entered into an agreement that obliges the company to pay a fine of a record five billion dollars for the use of confidential user data. Facebook should also change the privacy policy and increase its protection. The agreement is to be approved by the court.
The antitrust investigation by the Federal Trade Commission regarding Facebook revealed a number of major violations, including a violation of the FTC law of 2012, when the company did not properly inform users about the use of their confidential data. The violation led to tangible consequences. Recall that the non-existent British consulting company Cambridge Analytica collected data from 87 million Facebook users and transferred them to third parties to develop algorithms that allow manipulating voters.
According to the agreement, Facebook will not have the right to ask users for passwords for third-party services, as well as use the mobile phone numbers specified in the authentication settings for targeted advertising. The company is also obliged to strengthen control over third-party applications.
In addition, the technology giant must create an independent committee to ensure the confidentiality of user data, which is why Facebook CEO Mark Zuckerberg will lose "unlimited control over decisions affecting user privacy."
A fine of five billion dollars is the largest ever imposed on companies. This is the largest material “punishment” imposed by the US government for violating the privacy of confidential information.
The US Federal Trade Commission (FTC) and Facebook have entered into an agreement that obliges the company to pay a fine of a record five billion dollars for the use of confidential user data. Facebook should also change the privacy policy and increase its protection. The agreement is to be approved by the court.
The antitrust investigation by the Federal Trade Commission regarding Facebook revealed a number of major violations, including a violation of the FTC law of 2012, when the company did not properly inform users about the use of their confidential data. The violation led to tangible consequences. Recall that the non-existent British consulting company Cambridge Analytica collected data from 87 million Facebook users and transferred them to third parties to develop algorithms that allow manipulating voters.
According to the agreement, Facebook will not have the right to ask users for passwords for third-party services, as well as use the mobile phone numbers specified in the authentication settings for targeted advertising. The company is also obliged to strengthen control over third-party applications.
In addition, the technology giant must create an independent committee to ensure the confidentiality of user data, which is why Facebook CEO Mark Zuckerberg will lose "unlimited control over decisions affecting user privacy."
A fine of five billion dollars is the largest ever imposed on companies. This is the largest material “punishment” imposed by the US government for violating the privacy of confidential information.