Facebook set to face hefty fine by the Federal Trade Commission

Business

The FTC has announced a settlement with Facebook Inc. over the social network's handling of user information in the past.

The Federal Trade Commission has voted to fine Facebook five billion dollars over the company’s handling of data.

This recent news marks the largest civil and privacy fine ever implemented by the FTC.

Many critics are now describing the fine as a slap on the wrist for the social media network who brought in a total of $56-billion in revenue in 2018.

The fine stems from a probe that investigated Facebook’s handling of user privacy information and whether they obtained and used users’ information without their permission.

The penalty will still need to be approved by Department of Justice before it is handed down.

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