Facebook, Inc. will pay a record-breaking $5 billion penalty, and submit to new restrictions and a modified corporate structure that will hold the company accountable for the decisions it makes about its users’ privacy, to settle Federal Trade Commission charges that the company violated a 2012 FTC order by deceiving users about their ability to control the privacy of their personal information. Highest Penalties in Privacy Enforcement Actions – $148 million States vs. Uber, $230 million British Authority vs. British Airways (proposed), $275 million CFPB and States vs. Equifax, $5 billion FTC vs. Facebook. Source: Federal Trade Commission. FTC.govThe $5 billion penalty against Facebook is the largest ever imposed on any company for violating consumers’ privacy and almost 20 times greater than the largest privacy or data security penalty ever imposed worldwide. It is one of the largest penalties ever assessed by the U.S. government for any violation.
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The message is clear: organisations must be held accountable for their social and environmental footprint. Therefore, it’s inevitable that speaking up becomes the next social…
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