FTC and Justice Department announce privacy settlement with Facebook that includes record-setting $5 billion fine. Facebook agreed to several new measures to ensure that personal information is protected on its platform. A federal judge still must finalize the agreement, according to the FTC. The settlement is designed to change Facebook’s entire privacy culture to decrease the likelihood of continued violations,” says FTC Chairman Joe Simons. Facebook also set aside an additional $2 billion to cover the cost of the FTC fine, supplementing $3 billion set aside earlier in the year.”]
Source: https://www.healthcareinfosecurity.com/its-official-ftc-fines-facebook-5-billion-a-12823