WASHINGTON (AP) – Federal regulators are fining Facebook $5 billion for privacy violations, partly stemming from the Cambridge Analytica app. It’s also instituting new oversight and restrictions on its business. Facebook reported revenue of $56 billion dollars last year.
But the Federal Trade Commission is only holding CEO Mark Zuckerberg personally responsible in a limited fashion. Two Democratic commissioners dissented from the settlement, saying the FTC should have imposed stiffer penalties and stricter limits on Facebook’s business.
KXL Tech Expert Brian Westbrook says this will change the way Facebook handles user privacy and will “change how the business operates moving forward and most importantly, it will take away Zuckerberg’s unilateral control over how it handles user privacy and put it in the hands of that may actually care about our own privacy and the data we put into the Facebook ecosystem.”