A report says Facebook and the Federal Trade Commission (FTC) are negotiating a “multibillion dollar” fine for the social network’s privacy lapses.
The Washington Post reported Thursday, February 14, that the fine would be the largest ever imposed on a tech company. Citing unnamed sources, it also stated the two sides have not yet agreed on an exact amount.
The FTC has been investigating revelations that Facebook inappropriately shared information belonging to 87 million of its users with the now-defunct British political consulting firm Cambridge Analytica.
The probe has focused on whether the sharing of data with Cambridge Analytica and other privacy disputes violated a 2011 agreement with the FTC to safeguard users’ privacy.