US FTC imposes record $5 billion fine on Facebook

The US FTC will fine Facebook about $5 billion for privacy violations in the Cambridge Analytica case, New York Times sources said. In addition, Facebook must monitor more intensively how it handles user data.

In addition to The New York Times, The Wall Street Journal also writes about the decision, which would have been taken on Friday. The details of the decision are not yet known, nor is the ruling final. According to the Times, the US Justice Department has yet to approve the settlement, but it is very rare that they do not go along with an FTC ruling.

There is currently no details about the mandatory enhanced monitoring of user data. Internally, FTC board members disagree on whether Mark Zuckerberg should be held personally responsible for violating the terms of an earlier 2011 settlement with the FTC, proponents say that would be far more drastic than a fine.

According to American media, the amount is the largest of its kind, much larger than the $22.5 million fine that Google had to pay in 2012. Nevertheless, Facebook can make the money: in 2018 the company generated more than 55 billion dollars in turnover.