US imposes $5b fine, restrictions on Facebook

1985

Washington

US regulators on Wednesday formalized a record $5 billion fine on Facebook for privacy violations in a settlement requiring the world´s biggest social network to “submit to new restrictions and a modified corporate structure.” The Federal Trade Commission said the penalty was the largest ever imposed on any company for violating consumers´ privacy and one of the largest penalties ever assessed by the US government for any violation.

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