The proposed law basically seeks to deter anticompetitive and monopolistic behavior by charging great gobs of money against the companies that get caught doing it.And in that same week, Facebook said it was the target of an FTC antitrust investigation, separate from the FTC's probes into its privacy practices.
Facebook is facing new questions over its handling of the Cambridge Analytica debacle even after a record settlement with the FTC ended a year-long investigation by regulators into the matter.
apparently too many people signed up and now the FTC is helping Equifax by telling people not to ask for money from the company any more. First, though, the good: all 147 million people can ask for and get free credit monitoring.
"You can still choose the cash option on the claim form," notes the agency, "but you will be disappointed with the amount you receive and you won’t get the free credit monitoring.". WATCH: How to get free money or credit monitoring from the Equifax data breach.
EPIC requested a hearing where the court could review the fairness of the Facebook agreement and consider consumer groups’ complaints. If the court decides to grant such a hearing, a judge could require the trade commission to review outstanding consumer complaints and alter the terms of the proposed settlement.
In addition to the $5 billion fine, which goes straight to the US Treasury, the new order requires Facebook to establish and adhere to a new governance structure for reviewing user privacy on its services, including Instagram and WhatsApp. The company's board of directors must form an independent privacy committee, removing "unfettered control" of decisions affecting user privacy from CEO Mark Zuckerberg.
Facebook assessed $5 billion penalty, subjected to sweeping new restrictions on user privacy decisions to settle FTC charges the company violated a 2012 FTC order by deceiving users about their ability to control privacy of their personal info.
According to the report, Messenger Kids had a design flaw that allows for a situation in which a child can enter a group chat with other users — including adults — who hadn't been preapproved by their parents.
Equifax Inc. has agreed to pay at least $575 million, and potentially up to $700 million, as part of a global settlement with the Federal Trade Commission, the Consumer Financial Protection Bureau (CFPB), and 50 U.S. states and territories, which alleged that the credit reporting company’s failure to take reasonable steps to secure its network led to a data breach in 2017 that affected approximately 147 million people.
The settlement concludes that Google did not adequately shield children who were using the platform and collected their data in violation of the Children’s Online Privacy Protection Act (COPPA), The Washington Post reports, citing two sources.
It is easier than ever for sensitive information to spread, and we urgently need legislation that allows the Federal Trade Commission and state attorneys general to protect Americans from having their personal data collected and sold without their consent.
A hacker attack of impressive magnitude targeted specific individuals of interest to the Chinese government as they moved around the world, in what appears to be the first such operation in the history of cyberespionage.
Media captionHow the Facebook-Cambridge Analytica data scandal unfolded US regulators have approved a record $5bn (£4bn) fine on Facebook to settle an investigation into data privacy violations, reports in US media say. The FTC began investigating Facebook in March 2018, following reports that Cambridge Analytica had accessed the data of tens of millions of its users.
Facebook co-founder, Chairman and CEO Mark Zuckerberg testifies before the House Energy and Commerce Committee in the Rayburn House Office Building on Capitol Hill April 11, 2018 in Washington, DC.The Federal Trade Commission approved an approximately $5 billion settlement with over the company's 2018 Cambridge Analytica scandal, a person familiar with the matter told The Wall Street Journal.
stock dipped on a Wall Street Journal report that the company has uncovered emails linking CEO Mark Zuckerberg to the social media giant's controversial privacy practices.
Within the company, the unearthing of the emails in the process of responding to a continuing federal privacy investigation has raised concerns that they would be harmful to Facebook, at least from a public-relations standpoint, if they were to become public, the WSJ reported.
(Reuters) - Facebook Inc emails appear to show Chief Executive Officer Mark Zuckerberg’s involvement in discussions about its much criticized privacy practices, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.
Democratic leaders Frank Pallone and Jan Schakowksy did an oversight review of Facebook’s regulator, the Federal Trade Commission, with all five commissioners, including Chairman Joe Simons, advancing ideas on how to address privacy rules in America today.
The FTC commissioners asked Congress to update the agency's statutory authority to give it the power to make rules and to assess fines against companies that break the law.
While the Republicans could push through a relatively lenient offer along partisan lines, doing so could come with heavy political costs for the agency, since it would expose them to attacks that the Republican majority is soft on misbehaving technology companies.
Facebook and the Federal Trade Commission are negotiating a possible settlement that would require the company to place privacy-minded executives at the company's highest levels, a source close to the talks told POLITICO on Wednesday — in addition to paying the expected multibillion-dollar fine it disclosed last week.
(Reuters) - Facebook Inc and the Federal Trade Commission (FTC) are negotiating a possible settlement that would require the company to create an independent privacy oversight committee and take other steps to safeguard users, Politico reported on Wednesday, citing a source.
Facebook Could Face Up To $5 Billion Fine For Privacy Violations. Facebook expects to pay a fine of up to $5 billion in a settlement with federal regulators. So whatever the final figure, the company has the money to pay for the estimated fine.
SAN FRANCISCO — Facebook said on Wednesday that it expected to be fined up to $5 billion by the Federal Trade Commission for privacy violations, in what would be a record penalty by the agency against a technology company.
Federal regulators investigating Facebook for mishandling its users' personal information have set their sights on the company's CEO, Mark Zuckerberg, exploring his past statements on privacy and weighing whether to seek new, heightened oversight of his leadership.
with 35 posters participating Federal Trade Commission officials are discussing whether to hold Facebook CEO Mark Zuckerberg personally accountable for Facebook's privacy failures, according to reports by The Washington Post and NBC News.
The Federal Trade Commission (FTC) has issued seven letters to internet service providers (ISPs) and mobile broadband providers in the United States demanding a special report regarding their privacy practices.