Monday, April 09, 2018

Facebook could face record fine, say former FTC officials - The Washington Post

So perhaps a fine > $0 but < $Ts...

"Violations of the FTC consent decree also carry the possibility of fines that could top $40,000 per “violation.” With more than 200 million Americans using Facebook, the fines could — at least in theory — reach into the trillions of dollars if the FTC found violations. (Facebook last year earned profit of $15.9 billion on $40.7 billion in revenue.) The former FTC officials said the actual fines would be far smaller but could easily top the previous record of the $168 million civil penalty by the FTC against the DISH Network for violating telemarketing rules.

After the FTC announced in 2011 that it would punish Facebook for mishandling its users’ data, it heralded the consent decree as the best way to advance “the privacy interests of the nearly one billion Facebook users around the world.” Officials wrote at the time, “We intend to monitor closely Facebook’s compliance with the order and will not hesitate to seek civil penalties for any violations.”"
Facebook could face record fine, say former FTC officials - The Washington Post

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