The Federal Trade Commission , which has been investigating Facebook in the backwash of its monolithic Cambridge Analytica scandal , has voted to approve levying a monolithic $ 5 billion fine against the societal medium giant , according to reporting in both theWall Street Journaland theWashington Post . It ’s the single large amercement against a tech company by the FTC to escort , but its inadequacy to curtail succeeding rupture of this form already has progressive lawmaker furious .
Facebook was aware of a fine of this magnitude potentially coming down the pike for some metre , andbracedfor a striking between $ 3 billion and $ 5 billion . The favorable reception vote — which reportedly burst down party line , with three Republicans voting in favor and two Democrats against — was on the higher terminal of the expect spectrum .
This is expected to crest the agency ’s investigation into the data - mining outrage that compromisedup to 87 million Facebook drug user ’ personal data . The data was originally reap using a on the face of it benignant quiz app on the platform but was later potentially used by Cambridge Analytica , a political consultancy , for the unrelated purpose of political ad targeting .
Goodbye, moneyPhoto: Justin Sullivan (Getty)
Both the FTC and Facebook declined to comment .
While monolithic by the standard of tech companies , which too frequently get off with a smacking on the radiocarpal joint of loose information privacy practice which endanger users , the FTC ’s amercement still represents less than a third of the company’s$15.08 billion earningsfrom just the first quarter of this yr .
Part of the resolution , which still needs approval by the Justice Department , is ask to cut back Facebook ’s data policies , though the specific details are not currently make out . According toreportingfrom the New York Times , however , “ none of the conditions in the small town will qualify Facebook ’s ability to collect and share data point with third parties . ” This , allegedly , was the source of Democrats ’ determination not to quest for this specific course of action .
“ give Facebook ’s repeat privacy violations , it is clear that rudimentary morphologic reforms are involve . With the FTC either ineffectual or unwilling to put in place sensible guardrails to secure that substance abuser privacy and data are protected , it ’s time for Congress to act , ” Sen. Mark Warner write in a statement , on the face of it confirm that reporting .
“ Despite Republicans ’ promises to hold big tech accountable , the FTC appear to have fail miserably at its good chance to do so , ” Sen. Ron Wyden concur . “ No storey of corporate fine can put back the necessity to hold Mark Zuckerberg in person responsible for for the flagrant , reiterate violations of Americans ’ privacy . That say , this reported amercement is a mosquito bite to a corporation the size of Facebook . And I fear it will let Facebook off the lure for more late abuses of Americans ’ data that may not have been factor out into this poor settlement . ”
Wyden also alluded to a forthcoming pecker which he trust will come up to the gaps in the FTC ’s settlement .
Representative David Cicilline , who chairs the House ’s Antitrust Subcommittee , also had vituperative remarks in regards to the FTC colonisation . “ The FTC just gave Facebook a Christmas present five months early , ” hewrote . “ It ’s very dissatisfactory 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 yearly gross . It wo n’t make them think double about their responsibility to protect substance abuser data . ”
Update 5:45pm ET : add together statements from Sens . Warner and Wyden , as well as Rep. Cicilline .
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