{"id":197633,"date":"2019-07-13T11:35:03","date_gmt":"2019-07-13T11:35:03","guid":{"rendered":"http:\/\/151.106.38.4\/2019\/07\/13\/facebook-to-pay-5bn-fine-over-privacy-violations-report\/"},"modified":"2019-07-13T11:35:03","modified_gmt":"2019-07-13T11:35:03","slug":"facebook-to-pay-5bn-fine-over-privacy-violations-report","status":"publish","type":"post","link":"https:\/\/nagalandpost.net\/index.php\/2019\/07\/13\/facebook-to-pay-5bn-fine-over-privacy-violations-report\/","title":{"rendered":"Facebook to pay $5bn fine over privacy violations: Report"},"content":{"rendered":"

<\/p>\n

 Facebook has reportedly reached a whopping $5 billion settlement with the US Federal Trade Commission (FTC) in the Cambridge Analytica privacy violations, the media reported.<\/p>\n

FTC commissioners voted by 3-2 with Republicans in support and Democrats in opposition to the penalty, Xinhua news agency quoted a Wall Street Journal report as saying on Friday. The personal data of over 87 million Facebook users were violated by the British political consultancy firm Cambridge Analytica.<\/div>\n
The FTC opened a probe last year into the matter after the social networking giant admitted Cambridge Analytica acquired detailed personal information of more than 87 million Facebook users via an academic researcher.<\/div>\n
The report of the $5 billion settlement, the largest ever by the FTC against a tech company over privacy issues after a $22.5 million settlement with Google in 2012, led to Facebook’s stock price rise on Friday.<\/div>\n
The reason for the stock price surge was because the settlement money is hardly a quarter of Facebook’s annual profit that met with records this year.<\/div>\n
The FTC also did not say anything about breaking up Facebook – a call that has been rising in the US political corridors.<\/div>\n
The Facebook-FTC matter has now been moved to the US Justice Department for a review.<\/div>\n
It is still unclear what restrictions are on Facebook’s handling of user privacy in the settlement. FTC and Facebook declined to comment on the story.<\/div>\n
Battling several privacy violations, Facebook in April said it has kept aside $3-$5 billion, anticipating a record fine coming from the US FTC.<\/div>\n
“We estimate that the range of loss in this matter is $3 billion to $5 billion,” Facebook had said.<\/div>\n
As part of its settlement with the US FTC, the social media giant has also been asked to “strengthen its privacy practices”.<\/div>\n
(IANS)<\/div>\n","protected":false},"excerpt":{"rendered":"

Facebook to pay $5bn fine over privacy violations: Report<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[688],"tags":[],"class_list":["post-197633","post","type-post","status-publish","format-standard","category-infotainment"],"_links":{"self":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/197633","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/comments?post=197633"}],"version-history":[{"count":0,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/197633\/revisions"}],"wp:attachment":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/media?parent=197633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/categories?post=197633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/tags?post=197633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}