Anticipated for months, the Federal Trade Commission (FTC) has voted today to 39 Facebook impose a record fine of $ 5 billion for apparent violation of a corporate decree to better protect the privacy of users. According to reports from the Wall Street Journal, the New York Times and the AP. According to the New York Times report, the commission voted 3 to 2, with the two Democrats voting against.
Fines and supervision. In addition to this fine, "Facebook has agreed to more fully monitor the way it processes user data. . . But none of the terms of the deal will limit Facebook's ability to collect and share data with third parties, "the Times says. "And this decision seemed to split the five-member commission. The two Democrats who voted against the agreement called for stricter limits on society, said the people [familiar with the proceeding]. "
Triggered by the Cambridge Analytica scandal, the FTC investigated Facebook over a year before deciding to tax the record well, and the hefty fine might well indicate a new attitude, more aggressive, federal law enforcement authorities with respect to technology companies, in the absence of federal privacy legislation.The full terms of the settlement, which would include Continuous monitoring, will probably be unveiled early next week.
The largest fine prior to the FTC was a fine of about $ 22 million imposed on Google in 2012 for circumventing the third No. Default cookie settings on the browser Safari for mobile ("Cookiegate").
They saw it happen. Facebook was waiting for the fine and pr seems the shareholders at the publication of its latest quarterly results. The company has also set aside $ 5 billion in advance to pay it. As a result, the penalty has probably already been taken into account in Facebook's share price. But even $ 5 billion does not matter much to a company whose turnover exceeded $ 55 billion in 2018.
For its part, Google has received several fines of several billion dollars. dollars in Europe for various antitrust violations. Despite this, Google came out almost completely unscathed. Similarly, it is unlikely that this fine will have a significant impact on Facebook.
As a result of Cambridge Analytica and other data controversies, Facebook has rotated to more strictly enforce privacy and regulation. Why we should care Before we can assess the impact of this regulation on marketing, we need to know the official conditions of this agreement. However, as the New York Times story suggests, none of Facebook's major advertising features appear to have been compromised.
About the Author
Greg Sterling is a collaborative editor at Search Engine Land. He wrote a personal blog, Screenwerk, about the connection between digital media and consumer behavior in the real world. He is also Vice President of Strategy and Knowledge for the Local Search Association. Follow him on Twitter or find him on Google+.