Facebook to pay a historic $5 billion penalty in final settlement with FTC
The Federal Trade Commission (FTC) has officially penalized Facebook a groundbreaking $5 billion over privacy violations, the largest fine in FTC history. According to a Wednesdaypress releasefrom the FTC, the social network giant will also have to submit to new restrictions, as well as a modified corporate structure that will hold the company accountable for decisions made about users’ privacy. “Despite repeated promises to its billions of users worldwide that they could control how their personal information is shared, Facebook undermined consumers’ choices,” said FTC Chairman Joe Simons in the press release....