Facebook is expecting a penalty of $ 3 to 5 billion in Federal Trade Commission’s probe.
American online social media and Social Networking service company Facebook is expecting a penalty of $ 3 to 5 billion in Federal Trade Commission (FTC)’s probe.
The company on 24th of April said, it expects a fine of $3-5 billion in FTC’s probe, the biggest penalty against a Technology company in the FTC’s history.
The Facebook reportedly has set aside about $3 billion in legal expenses connected to the investigation.
The Federal Trade Commission is currently investigating the Facebook whether or not the company violated a 2011 privacy settlement in the Cambridge Analytica incident.
Facebook has faced a steady stream of controversies over how it protects user privacy, repeatedly adjusting its privacy settings and policies.
On June 7, 2018 the company announced that a bug had resulted in about 14 million Facebook users having their default sharing setting for all new posts set to “public”.
In March 2019, Facebook confirmed a password compromise of millions of Facebook lite application users.
