Facebook will pay $5 billion fine over privacy breaches
19:02
The Federal Trade Commission (FTC) hit Facebook with a $5 billion fine over its role in allowing Cambridge Analytica to collect millions of users' data without their consent. This is the largest fine the Federal Trade Commission has ever imposed on any company. "The magnitude of the $5 billion penalty and sweeping conduct relief are unprecedented in the history of the FTC," said Chairman Joseph Simons in a statement.
Facebook CEO Mark Zuckerberg confirmed in a post that the company agreed to pay a $5 billion fine. "But even more importantly, we're making some major changes to how we build our services and run this company," Zuckerberg wrote.
