https://nighthawkrottweilers.com/

Business

Facebook Page Setting Up to $ 5 Billion for Privacy Offenses: NPR




Facebook CEO Mark Zuckerberg speaks during the F8 Facebook Developers conference on May 1, 2018, in San Jose, California.

Justin Sullivan / Getty Images


hide caption

change caption

Justin Sullivan / Getty Images

Facebook manager Mark Zuckerberg speaks during the F8 Facebook Developers conference on May 1, 2018, in San Jose, California.

Justin Sullivan / Getty Images

Facebook expects to pay fines of up to $ 5 billion in a settlement with federal regulators. The tech giant revealed this figure in the first quarter of 2019 financial results.

Facebook has been negotiating with the Federal Trade Commission, as follows that the company violated a 2011 consent agreement. Earlier, business executives promised to give consumers "clear and prominent notice" when sharing their data with others and "expressly consent".

But, experts say, Facebook broke its promise. Just one example: providing user data to Cambridge Analytica, the political consulting firm that worked for the 2016 Trump campaign.

Facebook estimates that fines will be in the range of $ 3 to $ 5 billion and have set aside $ 3 billion for payment. The company statement states: "The case remains unresolved, and there can be no assurance about the timing or conditions of any outcome."

This would not be the biggest fine the FTC issued. In 2016, the agency reached settlements with VW of up to $ 14.7 billion. Facebook's total revenue for the first quarter was over $ 15 billion. So whatever the final figure, the company has the money to pay for the estimated fine.

Facebook monthly active users stands at NOK 2.38 billion, an increase of 8% the following year.

In a earnings call, CEO Mark Zuckerberg did not discuss the settlement in any detail. He focused his comments on outlining Facebook's growth plans, which include building a private messaging platform. He also pointed to the European model of privacy regulation as one that could function globally if other countries chose to follow.



Source link

Back to top button

mahjong slot

https://covecasualrestaurant.com/

sbobet

https://mascotasipasa.com/

https://americanturfgrass.com/

https://www.revivalpedia.com/

https://clubarribamidland.com/

https://fishkinggrill.com/