US regulators approved a roughly 4 billion settlement with Facebook Inc this week over its investigation into the social media company’s handling of user data, a source familiar with the situation said on Friday.
The FTC has been investigating allegations that Facebook inappropriately shared information belonging to 87 million users with the now-defunct British political consulting firm Cambridge Analytica.
The investigation has focussed on whether the sharing of data and other disputes violated a 2011 consent agreement between Facebook and the regulator.
Facebook and the FTC told the Report Focus they had no comment on the reports.
The settlement still needs to be finalised by the US justice department’s civil division and a final announcement could come as early as next week, the source said.
he fine would be the largest the FTC has levied on a technology company.
Facebook’s revenue for last year hit nearly $56 billion.
more recommended stories
Facebook whistleblower; Frances Haugen reveals Facebook prioritised growth over safety
A former Facebook whistleblower responsible for.
Facebook, Instagram And Messenger Are Back Online
Facebook, Instagram and Messenger are back.
Facebook, Instagram, WhatsApp and Messenger down
WhatsApp, Instagram and Facebook have all.
Instagram is pausing work on Instagram Kids following recent backlash
Facebook plans to make an “Instagram.
Lithuania tells citizens to bin Chinese mobile phones over censorship concerns
Government report claims censorship software on.
Instagram is DOWN for frustrated users around the world
Instagram appears to be down for.
PayPal launches crypto buying and selling in UK
PayPal Holdings Inc will allow customers in.
Social media giant Facebook promises cheaper internet in Africa
American social media giant Facebook says.