The amount of the fine that the U.S. Federal trade Commission (FTC) is conducting an investigation against Facebook in connection with the transfer of personal data of users to third-party companies for marketing purposes, you may collect from social networks is likely to exceed several billion dollars. This was reported in the night of Friday, the Washington Post, citing sources familiar with details of negotiations.
The FCC and other U.S. government agencies, including DOJ, FBI, and the Commission on securities and exchange Commission last year launched an investigation against Facebook. They study the impact of a transfer of the social network of the personal data of some 87 million users, British company Cambridge Analytica. In January, The Washington Post reported that the amount of the fine for the transfer of personal data of users may exceed $22.5 million due to the fact that such an amount had to pay Google in 2012 for the introduction of the confusion about practices of displaying targeted advertising in an Internet browser Safari, however, the decision on imposition of a fine was not imposed.
Sources The Washington Post still have no information about the exact size of the collection, but note that it can amount to several billion dollars and become the largest in the history of the FTC fines against technology companies.
In Facebook confirmed the negotiations with the Federal trade Commission, however, did not provide any additional information about their progress. Fkt, in turn, declined to comment about the case.
In March last year, the New York Times reported that the now closed Cambridge Analytica managed to collect the personal data of tens of millions of users of social networks to develop an algorithm for analysis of political preferences of voters. As told to former employees of the company that created the algorithm facilitates the users mailing political advertising to potentially affect their voices.
As acknowledged by the representatives of the social network, in 2015, Professor of psychology at Cambridge University Alexander Kogan using apps created on the platform of Facebook, gave Cambridge Analytica massive amount of personal user data. In the same year, the social network has blocked the application and demanded from Kogan and British companies to remove the data, but in the end it turned out that was removed was not the entire information.
The founder and head of Facebook Mark Zuckerberg then had to speak at the hearings in the U.S. Congress. The entrepreneur assured the legislators that the future of social networks will be more careful to handle personal user data.