FTC to fine Facebook $5 billion for Cambridge Analytica privacy violations

The Federal Trade Commission has voted to hit Facebook with a $5 billion fine for privacy violations relating to the Cambridge Analytica scandal. While this is the largest fine ever handed out by the FTC, the impact on Facebook's coffers is going to be minimal; this is how much revenue the company generates in a month. Although the fine has not been officially confirmed -- and neither the FTC nor Facebook are commenting on the matter -- a Friday vote on the fine is said to have gone 3-2 in favor of approving it. The size of the penalty has… [Continue Reading]