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FACEBOOK FACES FEDERAL TRADE COMMISSION PRIVACY INQUIRY

Aruba, March 26, 2018 - The US Federal Trade Commission will investigate Facebook over how private data on millions of users was given to Cambridge Analytica.

The social network has been criticised for letting the analysis firm scoop up data on 50 million users.
 
The information is believed to have been used to help Donald Trump's 2016 campaign for US president.
 
The FTC said its probe would determine whether Facebook had "failed" to protect users' privacy.
 
News of the FTC probe, which former FTC officials say could trigger fines in the trillions of dollars - sent shares down 6.5% in afternoon trading in New York before they recovered slightly.
 
Tom Pahl, acting director of the FTC's Bureau of Consumer Protection, said it took the reports about user data going astray "very seriously".
 
He said the FTC regularly took "enforcement action" against firms that caused substantial injury to consumers by breaking laws that govern how personal information should be kept safe.
 
Facebook is required by law to notify users and get their permission before data is shared beyond their preferred privacy settings in what is known as the "consent decree".
 
David Vladeck, the former director of the FTC's Bureau of Consumer Protection, said that the penalty for each violation of the consent decree is $40,000.
 
 

By orbitalnets.com