The recent Facebook-Cambridge Analytica data scandal was a shock for users, invading the private life of approximately 87 users who trusted their privacy with Facebook. Although the director Mark Zuckerburg apologized publically for this “data breach” and pledged to make amends in the platform’s policy, the fallout includes a big fine for Facebook that the company will have to pay for the recent data scandals.
It’s soon when CEO Zuckerburg has to make an appearance before Congress for the charges against the company. But the problem doesn’t end here! As per predictions, the approximate fine for Facebook over these recent scandals can be $7.1 trillion.
This fine will be charged by the Federal Trade Commission (FTC), who Facebook came to a settlement in 2011 over a user-privacy invasion matter. Under the terms of that settlement, Facebook was ordered to follow a number of guidelines to protect and secure user information:
“Facebook is barred from making misrepresentations about the privacy or security of consumers’ personal information; … [and is] required to obtain consumers’ affirmative express consent before enacting changes that override their privacy preferences.”
As FTC stated at that time.
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Since then, FTC has been performing a “non-public investigation into these practices.” Looking into the FTC statements and the number of users who got their data scraped (and the remaining users who could potentially compromise theirs), the predictions are made clear that the maximum fine for Facebook can roughly be $7.1 trillion for the Cambridge Analytica controversy.
Although it’s highly unlikely the Federal Trade Commission would charge the social network giant with a huge fine as this, there may be a chance that the company gets into a serious trouble if the FTC found a 2011 decree violation and thereby, charges Facebook with a fine of even a fraction of $7.1 trillion.
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