The Federal Trade Commission has officially announced that Facebook will pay a $5 billion fine for violating consumer privacy. Additionally, the company will need to submit to new restrictions and a modified corporate structure that will hold the company accountable for decisions about user privacy.The FTC found Facebook violated a 2012 order by deceiving users about their ability to control the privacy of their personal information.
“Despite repeated promises to its billions of users worldwide that they could control how their personal information is shared, Facebook undermined consumers’ choices,” said FTC Chairman Joe Simons. “The magnitude of the $5 billion penalty and sweeping conduct relief are unprecedented in the history of the FTC. The relief is designed not only to punish future violations but, more importantly, to change Facebook’s entire privacy culture to decrease the likelihood of continued violations. The Commission takes consumer privacy seriously, and will enforce FTC orders to the fullest extent of the law.”
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