Cambridge Analytica Privacy Scandal: Facebook to pay a Fine of $5 Billion
According to recent tech news, the Social Media tech giant, Facebook has been charged of $5 Billion fine for data privacy violations, arising from Cambridge Analytica privacy scandal. This staggering fine of $5 Billion (£4bn) is levied by the Federal Trade Commission of the United States to settle the investigations against Facebook. The charge was approved by the FTC by a 3-2 vote, wherein the decision received favor from the US Republicans parties, while the Democrats opposed the decision. The final decision on the settlement rests in the hands of the Justice Department’s Civil Division. As per the sources, the resolution given by the Justice Department, in most cases, is similar to FTC’s decision. Insight into the Settlement The US Federal Trade Commission is a consumer protection oriented agency. The investigations by FTC were launched in March last year, to learn how Facebook handles the user data & its privacy. The investigation began after the Ob...