Facebook has been under investigation by the Federal Trade Commission due to their lack of privacy control and transparency over user data, and are in talks with the FTC over the amount they will need to pay in fines.
The FTC began its investigation into Facebook after Cambridge Analytica was caught accessing the user data of around 87 million people.
Facebook’s fine is said to be the highest the FTC has ever fined a company, potentially up in the billions of dollars, although an amount has not been determined.
The FTC could play a major role in safeguarding user privacy, starting with severe penalties for abusing user data safety standards.
The speed at which the FTC and lawmakers act on new information may help gain the public’s trust in handling big tech and privacy concerns.
Author: Adam Sarwar