2018 wasn’t the best year for Facebook. They have faced many data breaches, hacks and fines in the past year. 2019 also doesn’t seem to be one of the greatest years for the company. As per the latest reports, Facebook may face a record fine from the US regulators for violation the agreement the company had with them. According to the reports, it could be even bigger than the $22.5 million fine the Federal Trade Commission imposed on Google in 2012. It is not confirmed yet, because the Federal Trade Commission (FTC) is still investigating the issue.
The investigation was started last year after FTC found that Cambridge Analytica, a UK political consultancy, got access to the data from up to 87 million Facebook users without their consent. Based on the user data privacy agreement Facebook had with the US, it is a serious violation of the terms. So, as soon as the FTC complete their investigation, they will provide a final answer on this matter. According to many reports, it is expected to be one of the biggest fines that any company has ever faced from FTC.
Facebook didn’t make a comment on this yet. It seems they are waiting for a word from the FTC to make a statement on this. They have already faced several fines from different countries for data breach and privacy issues. This would be a huge addition to that which might also force the company to strengthen their respect towards the user data. As the decision hasn’t been finalized yet, we will have to wait for the officials to make a comment on this to confirm the rumors.