Facebook slapped with record USD 5 billion fine by FTC

In what is believed to be the second-largest penalty ever, the Federal Trade Commission (FTC) has officially announced its USD 5 billion settlement with Facebook over its mishandling of users’ data in Cambridge Analytica and other privacy breaches.

FTC alleges that Facebook failed to protect confidential data of its users from prying third parties, service ads, and lying to users that its facial recognition software was turned off by default, The Verge reports.