The final fine amount negotiated by the FTC and Facebook is highlighted. Fine could be the highest multi-billion dollar amount ever. Google paid a $22.5 million fine in 2012. Due to an investigation by the Federal Trade Commission into the misuse of social media giant user data, Facebook could face fines of billions of dollars. At present, Facebook and the FTC are discussing the actual and final amount of the fine that has yet to be finalized. If there is no agreement between the two parties, the FTC will take Facebook to court. The fine is due to the past misuse of user information by Facebook and numerous user data sharing practices with third parties. The FTC's probe on Facebook began in March 2018 following the revelation of the involvement of the social media giant in the Cambridge Analytica fiasco, in which the third-party company improperly accessed more than 87 million user data.
Over the last year, Facebook has failed to protect user privacy, ending political propaganda and manipulation and even disclosure of privacy violations. All of this, the FTC says, is a violation of Facebook and the FTC's 2011 agreement to improve their privacy practices. Facebook maintains that no such agreement has been violated.
The 2011 agreement between the FTC and Facebook stipulated that the social media company should be more transparent about the use and sharing of personal data by users with third parties. The agreement also made it clear that Facebook did not use a language designed to deceive or downplay its privacy practices. In under the agreement, the FTC would ensure this by conducting regular checks and audits of Facebook If it is found to be in breach, the FTC would have the right to issue a fine for the noted violations. The Washington Post reports that the fine would most likely be several billion dollars, the highest payable by any company after an investigation by the FTC. The current record for the highest fine is a $22.5 million fine paid by Google in 2012 as part of a settlement. If the FTC has its way, the fine would be a large one, as a means of setting a precedent for the future. Whatever fine is mutually decided between the FTC and Facebook would have to be approved by a Judge. In the event that the two can not reach a settlement, the FTC has a good right to bring the social media company to justice. Related reads: By 2020 or later, Facebook could integrate WhatsApp, Instagram, and Facebook Messenger:
