Facebook's privacy violation
FTC had announced the fines on Facebook at the beginning of this month. According to the commission, in the case of privacy in the US, a company was imposed on it, it is the biggest penalty till date. In addition to Cambridge Analycia, Facebook is facing many other allegations regarding the user's privacy and the security of the data security. FTC is an independent organization of the US, which was created under the Federal Trade Commission Act. The agency's main job is to protect the interest of the consumer.
Even before the fines have been imposed on Facebook
In the case of privacy violations, fines have already taken place on Facebook. Last year, the British Information Bureau had imposed a fine of five million pounds (about 4.30 crore) on Facebook. The penalty was also imposed on the role of Facebook in Cambridge Antilica's data theft case. FTC Chairman Joe Simmons said that Facebook was consistently promising that he would try to control the world over how to share his users' personal information. But, Facebook has disappointed users.
Zuckerberg's rights will be cut
The penalty imposed on Facebook by the agency is about 1 per cent of its total market cap of around Rs 35 lakh crore. The decision made by the commission said that an independent privacy committee will be formed between the board of directors of Facebook, who will end control of Facebook CEO Mark Zuckerberg on user privacy decisions. The Commission says that the penalty of $ 5 billion in FTC's history is unprecedented. This penalty has been imposed so that future violations can be prevented.