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US Regulators Have Met To Discuss Imposing a Record-Setting Fine Against Facebook For Some of Its Privacy Violations: Report (washingtonpost.com)
U.S. regulators have met to discuss imposing a record-setting fine against Facebook for violating a legally binding agreement with the government to protect the privacy of its users' personal data, The Washington Post reported Friday [Editor's note: the link may be paywalled; alternative source], citing three people familiar with the deliberations. From the report: The fine under consideration at the Federal Trade Commission, a privacy and security watchdog that began probing Facebook last year, would mark the first major punishment levied against Facebook in the United States since reports emerged in March that Cambridge Analytica, a political consultancy, accessed personal information on about 87 million Facebook users without their knowledge. The penalty is expected to be much larger than the $22.5 million fine the agency imposed on Google in 2012. That fine set a record for the greatest penalty for violating an agreement with the FTC to improve its privacy practices.
facebook's greed and ignorance are significant contributors to brexit and, even more spectacular (and not in a good way), the entire shitshow that is the trump presidency.
had they not sold out to russian trolls (and perhaps chinese and/or saudi..) and spooks and republican campaign and its vendors (cambridge analytics, et al) and major donors (koch, nra, etc).. the uk would not be trying to leave the e.u. and trump would in jail instead of the white house.
i can't see trump-friendly government officials going after facebook.. maybe what they really meant is they're gonna get a slap on the wrist, because we 'just have' to do 'something' since the e.u. started to hammer fb.
They'll really feel this one. It's almost 0.17% of their quarterly revenue!
No, not 17%, seventeen hundredths of a percent.
https://investor.fb.com/investor-news/press-release-details/2018/Facebook-Reports-Third-Quarter-2018-Results/default.aspx