Facebook, FTC reportedly negotiating massive fine to settle privacy issues

This would make the ICO fine look like very small change…:

Facebook and the Federal Trade Commission are negotiating a multibillion-dollar fine to settle an investigation into the social network’s privacy practices, The Washington Post reported Thursday.

It’d be the largest fine ever imposed by the agency, according to the Post, though the exact amount hasn’t yet been determined. Facebook was initially concerned with the FTC’s demands, a person familiar with the matter told the publication. If the two parties don’t come to an agreement, the FTC could reportedly take legal action.

A Facebook representative said the company isn’t commenting on the Post report, but added: “We are cooperating with officials in the US, UK, and beyond. We’ve provided public testimony, answered questions, and pledged to continue our assistance as their work continues.”

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