Facebook to Be Fined $5 Billion over Cambridge Analytica Scandal

[Tsing]

Facebook is the honorable recipient of the Federal Trade Commission's largest fine ever imposed against a tech company. The FTC is making the social media giant pay $5 billion over 2018's Cambridge Analytica fiasco, in which the consulting firm used a private database to develop millions of profiles about voters.

Officials are calling the settlement a "slap on the wrist" because $5 billion is peanuts for Facebook, which generates far more money annually. “It won’t make them think twice about their responsibility to protect user data.”

The FTC began probing Facebook in March 2018 following reports that political consulting firm Cambridge Analytica had accessed the data of 87 million Facebook users. The agency was concerned that Facebook had violated the terms of a 2011 agreement, which required Facebook to give users very clear notifications when their data was being shared with third parties.

 

[Nanobot]

When has a levied fine ever been enough to deter future transgressions? They need to bring back prosecutions, period.

 

[HAL_404]

“It won’t make them think twice about their responsibility to protect user data.”

that's because money talks and you know what walks and besides, here in the USA we still have a very corrupt Government pretty much the same as the world over

 

[Niner51]

Was reading an article about this today. Seems like a slap in the wrist or what they bring in monetary wise.