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| Facebook Is being fined! |
The US Federal Trade Commission (FTC) says Facebook authorities will have to pay a fine of $ 500 million for failing to provide proper privacy. According to the BBC report, this is probably the largest fine in the history of a company. According to CNN, Facebook will take only a month to earn that amount.
According to the FTC, they have investigated how the personal information of 4 million Facebook subscribers reached Cambridge Analytica, a political consulting firm. Later, some other issues were added to the investigation. It also investigates face recognition technology.
In addition to the fine, Facebook has been asked to comply with several other conditions. The social media has been asked to form an independent private privacy committee. The terms and conditions stated that Mark Zuckerberg, the founder, and CEO of Facebook, could not be controlled by the committee.
FTC Chairman Joe Simmons said Facebook had repeatedly promised millions of customers around the world about establishing control over personal data sharing. But Facebook has dishonored customer choice. Regarding the penalty, he said the huge fine was imposed on Facebook to bring about a huge change in protecting personal privacy.
