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IPFS News Link • Social Networking/Social Media

Facebook To Pay Record $5 Billion Fine In FTC Settlement

• by Tyler Durdan

Under the settlement, Facebook founder and CEO Mark Zuckerberg will be required to certify that the company is in compliance with new privacy strictures, and could be subject to civil and criminal penalties for false certifications.

"The $5 billion penalty against Facebook is the largest ever imposed on any company for violating consumers' privacy and almost 20 times greater than the largest privacy or data security penalty ever imposed worldwide," the Federal Trade Commission said in a news release. "It is one of the largest penalties ever assessed by the U.S. government for any violation."

To many the penalty, which is a fraction of what Facebook makes in one year, was merely a token wristslap, and will do nothing to change the company's entrenched culture, which in recent months has seen Facebook proactive seek out to censor free speech on its website, especially when it comes from conservative voices.