U s charges 5b fine to facebook for violating privacy
You're referring to the recent news!
Yes, it's true. The United States Federal Trade Commission (FTC) has announced that Facebook will pay a record-breaking $5 billion fine to settle charges that the company violated its 2012 consent decree by deceiving users about the privacy of their personal data.
The FTC alleged that Facebook engaged in "deceptive practices" by telling users that their personal data would be kept private, while in reality, the company was sharing that data with third-party companies without users' consent. This violation of users' trust occurred between 2012 and 2015, during which time Facebook was already under a consent decree with the FTC to protect users' privacy.
The $5 billion fine is the largest ever imposed by the FTC, and it's a significant blow to Facebook's reputation. The company has also agreed to implement new measures to protect users' privacy, including:
- Independent oversight: Facebook will establish an independent privacy committee to review and approve its privacy practices.
- Enhanced transparency: Facebook will provide users with more detailed information about how their data is being used and shared.
- Improved data security: Facebook will implement additional security measures to protect users' data.
The fine is a significant step towards holding Facebook accountable for its actions, but it's also a reminder that the company still has a long way to go to regain users' trust.