Facebook Agrees to Extensive New Oversight as Part of $5 Billion Settlement

Posted in: Surveillance & Privacy at 25/07/2019 14:24

Facebook was ordered on Wednesday to create new layers of oversight for its collection and handling of users’ data by the Federal Trade Commission, as the agency detailed a privacy settlement with the social network that became a referendum on how aggressive American regulators would be against big tech companies.

Under the agreement, the F.T.C. mandated that the Silicon Valley company add new positions and practices to increase the transparency and accountability of how it treats people’s information. The agency also formally imposed a record $5 billion fine against Facebook for deceiving users about their ability to control the privacy of their personal data.

Facebook to create privacy panel, pay $5 billion to U.S. to settle allegations
The Federal Trade Commission is set to announce on Wednesday that Facebook Inc has agreed to a sweeping settlement of significant allegations it mishandled user privacy and pay $5 billion, two people briefed on the matter said.

As part of the settlement, Facebook will agree to create a board committee on privacy and will agree to new executive certifications that users’ privacy is being properly protected, the people said.

U.S. government issues stunning rebuke, historic $5 billion fine against Facebook for repeated privacy violations
The U.S. government on Wednesday issued an unprecedented rebuke of Facebook after a year of massive privacy mishaps, charging that the company deceived its users and “undermined” choices they made to protect their data as part of a settlement that requires the tech giant to pay $5 billion and submit to significant federal oversight of its business practices.

Sixteen months after opening its investigation, the Federal Trade Commission alleged that Facebook had repeatedly misled its 2.2 billion users. The agency argued that the social-networking company was not upfront about the ways app developers, advertisers and others gained access to users’ personal data — from the content they “liked” to the phone numbers they stored — in a breach of Facebook’s previous promise to improve its privacy protections online.

Facebook to pay $5bn fine as regulator settles Cambridge Analytica complaint
Facebook will pay a record $5bn (£4bn) penalty in the US for “deceiving” users about their ability to keep personal information private, after a year-long investigation into the Cambridge Analytica data breach.

The Federal Trade Commission (FTC), the US consumer regulator, also announced a lawsuit against Cambridge Analytica and proposed settlements with the data analysis firm’s former chief executive Alexander Nix and its app developer Aleksandr Kogan.

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