Tuesday, April 10, 2018

Facebook could theoretically owe the FTC $7.1 trillion for recent data scandals


It’s a big week for Facebook. CEO Mark Zuckerberg is set to appear before Congress tomorrow, ready to fess up to his social network’s multitudinous problems. But the company might soon have a bigger adversary: The Federal Trade Commission (FTC), which could put Facebook on the hook for more money than even its redoubtable coffers could supply. Facebook came to a settlement with the FTC in 2011 over a claim that the former had “deceived consumers by telling them they could keep their information on Facebook private, and then repeatedly allowing it to be shared and made public.” Under the…

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