Facebook Fined $5 Billion + $100 million

[TheGreyApe]

Facebook has agreed to pay a $5 billion fine to the US Federal Trade Commission (FTC) for user data privacy violations.

Facebook is currently reviewing its systems, looking for issues related to privacy leaks, and will "work swiftly to address them "once they're found" and will be "more diligent" in how it monitors for abuse, and will require developers to be accountable for the way they use data and comply with its policies.

The company claims its two driving concepts from now on will be "transparency and accountability", with quarterly certifications verifying that its privacy controls are working. This process "stops at the desk" of Mark Zuckerberg, who will personally "sign his name to verify" that Facebook did what it said it would.

There's also going to be a new committee of Facebook's board of directors meeting quarterly to ensure it's living up to its privacy-related commitments. This committee will be informed by an independent privacy assessor, whose job it is to review the privacy program and report to the board when they see opportunities for improvement.

Additionally, Facebook agreed to pay a $100 million penalty to the US Securities and Exchange Commission, for failing to say enough about the Cambridge Analytica data abuse in its investor disclosures, once it discovered, in late 2015, that a developer had transferred user data to Cambridge Analytica in violation of its policies.

Has Facebook finally learnt their lesson, what do you think?

[JAZZ-trad]

Not before time.

 

[Glory1]

I'm a sceptic @TheGreyApe, so I will wait and see what happens.

I hope Facebook have learned their lesson finally and will be considerably more careful with our private information and data. But, as I say I'm a sceptic, so I will just wait and see 

[TheGreyApe]

@Glory1  Im just more curious about how safe their other platforms are e.g. Instagram and WhatsApp

Personally If they hadn't changed anything last time I highly doubt this time would be any different unless new laws were brought in to not just fine business' but to enforce some lawful action.

[Glory1]

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@TheGreyApe wrote:

@Glory1  Im just more curious about how safe their other platforms are e.g. Instagram and WhatsApp

Personally If they hadn't changed anything last time I highly doubt this time would be any different unless new laws were brought in to not just fine business' but to enforce some lawful action.

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I don't use Instagram but I do use WhatsApp, a lot. I agree that not much will change until there are laws to protect our data that are actually enforceable, and are enforced. FB can't really police themselves. That's why I'm sceptical about FB having learned their lesson. They talk a good game but will anything really change, I'm very doubtful to be honest.

[Cleoriff]

I'm also quite sceptical about all of this. FB has their own laws and seem unstoppable. I hope they are forced to conform. I doubt it

[jonsie]

I very much doubt that any money will actually change hands.