Facebook faces $5 billion fine over privacy violations

A German view of last week’s announcement. I’ll be interested in how this plays out in terms out: 1. Does the fine actually ever get paid?; 2. Will this significantly change Facebook’s attitude to ‘who owns the data?’…:

[…] According to The Wall Street Journal, the settlement is also expected to include restrictions for how Facebook manages user privacy in the future.

Some critics have called for the FTC to hold Facebook CEO Mark Zuckerberg personally liable for privacy violations, or for the company’s data monitoring practices to be more closely scrutinized.

Representative David Cicilline, a Democrat and chair of a Congressional antitrust panel, called the penalty “a Christmas present five months early.”

“It’s very disappointing that such an enormously powerful company that engaged in such serious misconduct is getting a slap on the wrist. This fine is a fraction of Facebook’s annual revenue. It won’t make them think twice about their responsibility to protect user data,” he said in a statement.

The settlement still needs to be approved by the Justice Department before it is finalized. It is not yet clear how long that process will take.


Original article here