Facebook to Be Fined $5 Billion in Cambridge Analytica Privacy Scandal

[MacRumors]

The U.S. Federal Trade Commission has voted to approve a settlement with Facebook that will see the social media giant hit with a roughly $5 billion fine over the Cambridge Analytica privacy scandal, reports The Wall Street Journal.

The matter has been moved to the Justice Department's civil division and it is unclear how long it will take to finalize, the person said. Justice Department reviews are part of the FTC's procedure but typically don't change the outcome of an FTC decision.

A settlement is expected to include other government restrictions on how Facebook treats user privacy. The additional terms of the settlement couldn't immediately be learned.

The scandal revolved around data firm Cambridge Analytica, which improperly collected information on tens of millions of Facebook users without their consent to create targeted political advertisements during the 2016 campaign.

The data collection came through an app called "This Is Your Digital Life," which requested that Facebook users complete a survey for academic use. In reality, the app's permissions allowed it to collect personal information on not just the Facebook users who took the survey but also their friends.

Facebook revamped its privacy practices in the wake of the scandal, but the company still faced investigations by regulators over multiple security lapses and marked a significant moment in efforts to raise awareness about digital privacy.

Apple CEO Tim Cook called the Cambridge Analytica situation "dire" and has on multiple occasions called for increased regulation to protect user privacy.

Note: Due to the political nature of the discussion regarding this topic, the discussion thread is located in our Politics, Religion, Social Issues forum. All forum members and site visitors are welcome to read and follow the thread, but posting is limited to forum members with at least 100 posts.

Article Link: Facebook to Be Fined $5 Billion in Cambridge Analytica Privacy Scandal

 

[kingpushup]

What will that $5B now support?

 

[Agit21]

Good news. FB needs to die in the long run.
Hate to be on insta, but I try to use it rarely.

 

[mozumder]

Apple should have opened iCloud photos so that it becomes a built-in Facebook competitor. It also needs to be faster to download/sync photos.

Also, they should have "away messages" for people's contacts lists, like the old AOL IM.

 

[now i see it]

so tens of millions of FB users got their privacy robbed and then the Govt pockets $5 Billion because of it

 

[Will do good]

Add another zero to the fine and maybe FB will take notice.

 

[britboyj]

$5B for ... Subverting Democracy?

 

[whyamihere]

Meanwhile Equifax essentially gets a pat on the back.

 

[alex00100]

That’s... not a lot of money for a company this size.

 

[calstanford]

That **** company deserves to have another 0 behind that settlement sum for a nice round 50 Billion.

 

[twocents]

so tens of millions of FB users got their privacy robbed and then the Govt pockets $5 Billion because of it

But be assured that the govt will make sure that this can happen again. Whether by law or rolling back regulation, there is no way that this new source of income for the govt will be going anywhere anytime soon

 

[Val-kyrie]

And those whose privacy was violated will receive what?

 

[charlituna]

Good news. FB needs to die in the long run.
Hate to be on insta, but I try to use it rarely.

social media has become so pervasive to our culture that it won't die until something new comes along. same with twitter and Instagram. although that something might not be a single network. it might be time to have services that are more focused than one or two trying to be everything for everyone.

 

[johnnyrb]

Sadly, most people believe everything they read on the Internet.

 

[Jakewilk]

so tens of millions of FB users got their privacy robbed and then the Govt pockets $5 Billion because of it

That’s your government

 

[DrJohnnyN]

Good news. FB needs to die in the long run.
Hate to be on insta, but I try to use it rarely.

FB will never die.

 

[SirithX]

Meanwhile Equifax essentially gets a pat on the back.

Seriously, FB gets fined but Equifax does not?

Cambridge Analytica: 87M people affected: FB profile data, likes, interests taken
Equifax: 143M people affected: Social Security numbers, birth dates, addresses, driver’s license numbers taken

SMH

Good news. FB needs to die in the long run.
Hate to be on insta, but I try to use it rarely.

Be careful what you wish for. The decline of today's progressive tech giants could very well mean the rise of foreign, authoritarian companies beholden to their countries' interests rather than the US's. The US may crack down on US tech monopolies but you can bet that China will only keep encouraging their own.

 

[bpeeps]

But be assured that the govt will make sure that this can happen again. Whether by law or rolling back regulation, there is no way that this new source of income for the govt will be going anywhere anytime soon

This is not a new source of income for the government. Most govt agency fines go straight into the treasury and they have for decades.

 

[imola.zhp]

How many billion did Cambridge slide under the table to Facebook? If it was more than 5B then FB did pretty well.

 

[jimbobb24]

Facebook and Google worked closely with the Obama and Hillary campaigns. I think they should get fined 5 billion for each event. Focusing on the 2016 Trump campaign is a myopic approach to the political involvement of these organizations.

 

[alex00100]

Just for everyone's information, Zuck's personal wealth is around 70 billion. Really gives a new perspective on how much these 5 billion are for the whole company.

 

[rodpascoe]

Good news. FB needs to die in the long run.
Hate to be on insta, but I try to use it rarely.

So tens of thousands of people should lose their jobs and millions of people like myself who like and use Facebook should suffer because you don’t like it? Makes sense.

 

[78Bandit]

As far as Facebook is concerned that is just the cost of doing business. They had to have known the users' data was being accessed inappropriately but chose to look the other way because they decided the potential fine was less than the revenue they would get. For us old fogies, it's like back in the day when Ford decided to not fix the Pinto because they determined losses from wrongful death settlements would be less than the cost to recall the cars. Business will almost always make the decision that most benefits the bottom line no matter what the ethical issues.

 

[apolloa]

Great, I’m so glad they are going to hit them where it hurts, that means 15 billion as they have to make three times the money to have 5 billion.

 

[Mike MA]

Will this open up some more people’s eyes? I hope but I doubt...