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US: FTC to announce $5B settlement with Facebook as early as this week

 |  July 23, 2019

The US Federal Trade Commission (FTC) is expected to announce a roughly US$5 billion settlement with Facebook as early as this week of its investigation into the social media company’s handling of user data, two sources briefed on the matter said on Monday.

The FTC, Justice Department, and Facebook declined to comment. The FTC has been investigating allegations Facebook inappropriately shared information belonging to 87 million users with the now-defunct British political consulting firm Cambridge Analytica. Reuters and other outlets reported July 12 that the FTC had voted to approve the settlement, but was awaiting the concurrence of the Justice Department.

The settlement is expected to include government restrictions and oversight on how Facebook treats user privacy. It would mark the largest civil penalty ever paid to the FTC.

Full Content: Wall Street Journal

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