Facebook is Fined with 5 million dollars for passing the privacy of users through the lining
Facebook has been fined $ 5 billion for the whole privacy scandal and the massive sale of data without the slightest control.
After many months and after having to appear before the United States Congress, Facebook has been condemned. The company was facing a brutal sanction for practices against user privacy. A legal battle that has ended with an agreement between the Federal Trade Commission (FCC) and the social network. We are not talking precisely about raspas and the fine is 5 billion dollars.
The Wall Street Journal has reported that commissioners have accepted the deal. This agreement establishes that 5 billion dollars must be paid as a penalty for "privacy errors"
Facebook has been fined 5 billion dollars
It is also unknown what measures will be imposed to monitor and regulate the privacy of Facebook users. Neither has it been revealed how user data will be controlled, if it is sold. This penalty is the largest in history, which makes a fool of Google's $ 22.5 million penalty also by the FCC. It is clear that they have gone without regard for the social network.
Additionally, Facebook will be monitored in a more comprehensive manner. The FCC also wants to know how user data is collected and where it is stored. They will also control to which companies this data is sold. Control will be much tougher.
Such a penalty could have a very direct impact on Libra, the digital asset they plan to launch. The United States Congress, the European Commission and the banking system are not happy with the idea of Facebook. This is another field that can be expensive for the company. Many US congressmen have already told Facebook that if it smells like a bank and tastes like a bank, it is a bank. They can put the name they want, but they must be subject to banking regulation. If they do not comply, more penalties could come.
Source: engadget
